I'd just set my wallpaper to Hasselhoff as soon as I found out about the tradition and be done with it.

More seriously, the wallpaper stuff is OK, but I never found some of the more disruptive office pranks on the list to be particularly endearing (e.g., switching keycaps, taking the ball out of a mouse). It's work, and you sometimes need to do something urgently, and it's annoying to troubleshoot or clean up after someone wrapped your entire cubicle in shrink wrap, tied your shoelaces together, or something like that. If it's more fun to you than to the recipient, don't do it?

I did some office pranks, but tried to keep them nice. A tall stack of TPS reports on a manager's desk, sure.