OK. So the Herndon Climb is an annual tradition at the Annapolis Naval Academy in which the freshmen class, aka "plebes," climb a lard-covered monument to retrieve the Plebe 'dixie cup' hat and replace it with an upperclassmen's hat, thus graduating into the ranks above freshmen.
But mostly, it's about a bunch of people with really nice shirtless looking things happening climbing a big wet greasy pole. AN AMERICAN TRADITION.