Wisconsin and Minnesota play for something called Paul Bunyan's Axe. (This is not to be confused with the Paul Bunyan Trophy, which Michigan and Michigan State play for. Paul Bunyan has a lot of things named after him in the Big Ten, because Paul Bunyan founded the Big Ten.) Anyway, Wisconsin won -- they've won ten in a row in the rivalry -- and they decided to use the axe for what it's meant for: choppin' stuff.
I'm not sure that's an actual axe. Also, you can't hack through metal.
It looks like they do this every year:
Photo credit: Jeff Hanisch-US PRESSWIRE