Ahh, one of my favorite college storties centers around a banjo...
My friend Ben is a total hippy- this was at Middlebury, up in VT, incidentally. He's also a musician who recently got into bluegrass, so he usually had, in addition to an acoustic, a banjo and a mandolin kicking around his room, plus usually an electric bass and guitar and a djembe, and whatever anyone else happened to bring over. So one night i was chilling down there, working on a box of wine with him, and picked up his banjo. He's lefty, so i just flipped the thing over and started plucking. the drones in conjunction with the weird buzziness definately gave it a sitar-like feel, so i start doing sitar-influenced phrases. We drink more.
A couple minutes later, a few (female) friends of his i didn't know dropped in. We start talking.
"So... how long have you played banjo?"
I check my watch. "Oh, about fifteen minutes now, i guess..."
That may have been about the coolest I've ever felt. their reaction, basically a mute stare, was PRICELESS.
I don't remember the exact tuning, but some sort of an open-g sounds about right... fun instrument.