Well, it would have to be something that FIRST did, it couldn't be done by a team. Now, the obvious question is, how's the cost? Having it in the pit would be interesting, I wouldn't want it to be a pin or anything...too logistically unnecessary for an organization of FIRST's size and manpower. But to even have a printout (like is done with the team name & sponsors in the pit), might be worth it.
There's something really cool about being asked to explain stuff like that. On my purses (I have three that I rotate between), I have different FIRST memorabilia attached to them: On my red bag is the gear that I recieved in 2000 from BERT, on my black bag is the yellow TJ2 metal cube, and on my blue bag is a gear that I picked up off the ground this year at the NYC regional. (I also have a piece of 80-20 that I recieved at NJ this year that is floating around my room somewhere, eventually it will go on my 4th bag
) I get asked tons of questions about each of them, and it's a great conversation starter.
But honestly....something is going to replace the to-be obsolete banner system. Now that teams are allowed to buy banners for not only the awards that don't automatically get a banner, but only for participating, the banners don't mean as much as they used to at competition. The banners were an easy, standardized way to run around the pit and see who has done well already...and something has to come around to replace it. Whether it's ribbons or not, is up to FIRST.
Note: I'm not saying that offering banner sales is a bad thing, because I strongly feel that the payoff of having the thing in the team's community is of much better worth than the price of not having it mean as much at competition.