The University here is in session: this is the last week of their term, with exams beginning next week. The tradition here is for seniors to grow their beards and dress up in top hat, tails, and walking sticks. The girls dress up in beautiful turn of the century ballroom gowns. Not a lot of studying for these seniors - they're all enjoying themselves.
For them, classes are pretty much over. They've set up a tent in the front courtyard, grill brats, drink beer, and make as much noise as possible. The small car (below) has a very realistic ambulance siren which has seen a lot of use.
These small vehicles are all made by the seniors. Later this weekend they'll parade through the town (making as much noise as possible.)