Nothing screams 'playoffs' like a cephalopod. (The Red Wings' tradition began in 1952 when two fishmongers realized that the number of tentacles on an octopus matched the number of wins then necessary to win the Stanley Cup.)
The presence of a cephalopod signifies playoff status. In 1952, the Red Wings adopted their tradition after realizing that the number of tentacles on an octopus matched the number of wins needed for the Stanley Cup.