In this paper The Cow Feast, which the group of Mulkiyeli celebrates approximately 70 years, is discussed. Ankara University Faculty of Political Sciences, other name Mekteb-i Mulkiye, which is one of the educational institutions notices strength of tradition, exhibits a unique position with adherence to tradition and multi-hued structure. It is seen that in the formation of Mulklyeli identity, which students, graduates and academic staff of Ankara University Faculty of Political Sciences carries, The Cow Feast has an important role. The Cow Feast is celebrated with the participation of students to continue their education, at first graduates to finish the university forty years ago and the other graduates and academic staff. The Feast consists of some parts like opening speeches, the pray, the cow walking, the decree, the fender and the others. The Cow Feast has a symbolic language and a distinctive image world. For the Mulkiyelies, the feast is beyond being an ordinary student festival, considered as a criticism festival. This article discusses history of Faculty of Political Sciences; ritual characteristics, structure, parts and functions of The Cow Feast, using the use of humor in the feast and its influence on the Miilkiyeli identity formation.