Indiana and Purdue began their football rivalry in 1891, long before anybody thought about the bucket. In 1925, both schools met to develop a suitable trophy for the winner. Both sides selected an old oaken bucket, "one taken from some well in Indiana," and asked the winning team to attach its bronze block letter (I or P) to signify victory.
Other Trophy Rivalries
Big rivals can't just play for the sake of playing. Something has to be at stake, such as The Kit Carson Rifle, Peace Pipe or ever-popular Victory Bell.
Apple Cup, Washington vs. Washington State
Bayou Bucket, Houston vs. Rice
Beehive Boot, BYU vs. Utah
Black Diamond Trophy, Virginia Tech vs. West Virginia
Brice-Cowell Musket, Maine vs. New Hampshire
Bronze Boot, Colorado State vs. Wyoming
Commonwealth Cup, Virginia Tech vs. Virginia
Cy-Hawk Trophy, Iowa vs. Iowa State
Floyd of Rosedale, Minnesota vs. Iowa
Fremont Cannon, Nevada vs. UNLV
Golden Boot, Arkansas vs. LSU
Golden Egg Trophy, Mississippi State vs. Mississippi
Golden Hat, Oklahoma vs. Texas
Governor's Cup, Kentucky-Louisville
Governor's Victory Bell, Penn State vs. Minnesota
Grizzly-Bobcat Painting, Montana vs. Montana State
Heartland Trophy, Iowa vs. Wisconsin
I-64 Bowl Trophy, Richmond vs. William & Mary
Ireland Trophy,Boston College vs. Notre Dame
Iron Bowl, Alabama vs. Auburn
Iron Skillet, SMU vs. TCU
Jeweled Shillelagh, Notre Dame vs. USC
Keg of Nails, Cincinnati vs. Louisville
Land Grant Trophy, Penn State vs. Michigan State
Little Brown Stein, Idaho vs. Montana
Maloof Trophy, New Mexico vs. New Mexico State
Megaphone Trophy, Notre Dame vs. Michigan State
Missouri-Nebraska Bell, Missouri vs. Nebraska
Monon Bell, Wabash vs. DePauw
Nickel Trophy, North Dakota vs. North Dakota State
Old Brass Spittoon, Indiana-Michigan State
Old Oaken Bucket, Indiana-Purdue
Old Mountain Jug, Appalachian State vs. Western Carolina
Old Wagon Wheel, BYU vs. Utah State
Ol' School Bell, Jacksonville State vs. Troy State
Paul Bunyan's Axe, Minnesota vs. Wisconsin (previously Slab of Bacon Trophy)
Paul Bunyan Trophy, Michigan-Michigan State
Peace Pipe, Bowling Green vs. Toledo
River City Rivalry Trophy, Cincinnati vs. Pittsburgh
Schwartzwalder Trophy, Syracuse vs. West Virginia
Seminole War Canoe, Florida vs. Miami
Shillelagh Trophy, Notre Dame vs. Purdue
Silver Spade, New Mexico State vs. UTEP
Stanford Axe, Cal vs. Stanford
Telephone Trophy, Iowa State vs. Missouri
The Bell, Marshall vs. Ohio
The Cannon, Illinois vs. Purdue
The Illibuck, Illinois vs. Ohio State
The Kit Carson Rifle, Arizona vs. New Mexico
The Little Brown Jug, Minnesota vs. Michigan
The "Rag", LSU vs. Tulane
The Silver Shako, Citadel vs. VMI
The Steel Tire, Akron vs. Youngstown State
The Sweet Sioux Tomahawk, Illinois vs. Northwestern
The Territorial Cup, Arizona vs. Arizona State
The Victory Bell, Cincinnati vs. Miami (Ohio)
The Victory Bell, Duke vs. North Carolina
The Victory Bell, UCLA vs. USC
The Victory Carriage, UC Davis vs. Sacramento State
The Wagon Wheel, Akron vs. Kent State
I believe I found this list one day at indystar.com. It is a great list of all the football trophy rivalries so I thought I would share it.