Complex sentence: Drinking from a shoe has historically been seen as both a bringer of good fortune and as a hazing punishment, and drinking champagne from a lady's slipper became a symbol of decadence in the early 20th century.
Split into simpler sentences: Drinking from a shoe has historically been performed as both a bringer of good fortune and as a hazing punishment. Drinking champagne from a lady's slipper became a symbol of decadence in the early 20th century.