This would be a cool handout or college bookstore item, and beats the heck out of the same-old stadium cups that the kids always get. Other mug-a-phone mug megaphone ideas include: fundraising, homecoming, alumni weekend, etc.
I'm pretty sure that these would even go over pretty well at an outdoor corporate outing, or at least the ones I've been to. Check out the pics then call me to buy some of these awesome custom printed mug megaphones.
Here's the official sales pitch they gave:
Call 401 451 1874 to order, more pics coming soon