Has anyone actually said what a varsity letter is actually based on? I mean does the choice of letter depend on the name of the specific school?
If so, what happens when several schools have the same or similar names?
And if it's based on the school's name, does that mean it's the same regardless of the particular sport or team? And if someone is seen with (eg) G for (eg) Georgetown, how does anyone know whether they are a footballer, oarsman, table-tennis player or whatever?