Among the most charming of all customs in Italy is that of the newly minted graduate wearing a laurel wreath, called a corona. You may see these graduates at any time of year; I cannot figure out a rhyme or reason for the miscellaneous dates they appear in the city.
But, they are always happy and it is always a treat to see them!
When I was in Padova a month or so ago, I discovered there is a special custom there for graduates as well. It involves costumes and short street performances. I prefer the corone!