Will Ferrell reprised his role as Hank the Tank for a rager this weekend at USC -- only, this time, he was spinning records for the party animals ... and luckily, no streaking after.
The actor was spotted handling music duties at the Sigma Alpha Mu frat house in L.A. Saturday -- and based on the lighting ... it would appear this thing was a pre-game blowout that went down during the day, before kickoff in the evening.
There isn't much context beyond what you see in the clip ... it's WF with his shades on, blasting music from his turntable on a balcony -- with a bunch of college kids around.