The Consequence Bears are the catchphrase of Amaresh's RAG East I 2008. They were concieved shortly after the orientation speech, which featured the phrase, "There will be consequences..." repeated over and over again in a rules skit. The next night, Spencer Davis saw Eliot Beckham attempting to remove a fire extinguisher from its natural habitat.
Of course, a quick, "There will be consequences!" ensued. When Eliot asked what they were, Spencer relpied that they were bears. Bears that resided in the RC Megan's room, whose door nobody had ever seen open, and dropped down from ceiling tiles to maul you when you broke the rules. Eliot yelled, "Gah! The Consequence Bears!" And thus, the bears were born.
To become a catchphrase, Spencer later shortened it to, "There will be bears!"
Spencer and Eliot plan on bringing bears (Stuffed? Real? The world will never know.) to East next year.
EDIT: Megan's door was in fact seen open by the three muffins next door on several occasions. One time, the muffins even went INTO her room to watch a short film on her laptop. However, the muffins acknowledge the fact that the bears were in hiding at the time. Lies. That door was never, ever open. Ever.