At mine, we had a formal graduation ceremony in the morning with breakfast. Each resident, when called, would come to the podium and make a short speech. After that, lots of photographs were taken. A few days later, we had a dinner and dance at a local banquet facility with open bar. At the end of the night, the chief resident gave us each a small version of our diplomas. We received the official diplomas on the last day of residency from the program director.