The Fat Tuesday shenanigans began early when Loyola University New Orleans students woke up Tuesday morning to discover the letters L,O,Y,O were missing from their school sign.
The letters can be rearranged to spell the popular acronym YOLO, or "You Only Live Once."
“I saw it on Facebook, and I wanted to see if it was true. I grew up here, so I’m so used to seeing the letters, and it’s just amazing that somebody pulled this prank off,” Shakari Fraser told HLN affiliate WGNO.
According to school officials, the L and O disappeared on Sunday and then the Y and second O went missing on Tuesday morning. The thieves stole the letters by chiseling them off of the sign's base.
Loyola officials told WGNO that they believe it is just a "case of Mardi Gras vandalism" and they plan to have the sign repaired by Wednesday.
While no one knows for sure why the four letters were stolen, many assume it was to spell out "YOLO."
“A lot of people like to have fun down here, so no telling what their ambitions were," explained New Orleans resident Eric Hoss.