My niece graduated last week and posted a photo with 4 girls who were all roommates. They all had many stoles ad cords - all honor students (gold stole), one a Phi Beta Kappa, two with student council stoles, two with sorority stoles, a gold cord, white cord, one with a thicker green and gold cord.
If that wasn’t enough, two had purple leis of flowers.
They looked nice and accomplished.
DS school has chord for honors, something else for PBK. Those that traveled abroad can wear the stole of the country, and certain fraternities wear their banners as well. They do not decorate the hats or wear leis. They receive a stole at with their diploma as well. Lots of swag comes with the (authentic) sheepskin.
D’s school (Vanderbilt) did not have cords for latin honors - these were listed in the program only. There were some medals, etc. for individual honors, and students could wear “adornments” associated with these honors. The school has a very strict “adornment policy.” A student can wear no more than 3 adornments, and only certain adornments are allowed (they have to be on the approved list). Stoles are not allowed, although there were a number of grads who wore them in 2011 when D graduated (rules may have changed since).
D’s state U had honor cords for latin honors - he never mentioned that he was cum laude, and we didn’t know until we were sitting at graduation & saw it in the program. I texted him to ask if he had a cord, and he said yes. I asked if he knew why, and he didn’t. Yup, that pretty much sums up his college career - he did what he had to do, and he did well despite not being all that invested in it.
Just home from my S’s graduation today and because of this thread I obviously paid very close attention. Only a very few students had kente clothes and there were no other stoles or cords. Latin honors were also only listed in the program and when students name were called.
There were also no air horns. 
Congrats @emilybee to you and your son!