Commodities have three attributes: use value,exchange value and symbol value,contemporary college students are es- pecially infatuated with symbolic value in the choice of symbolic consumption. The continuity determined by the real identity of individ- uals is the primary feature to determine the identity,and the logical identity constitutes the main basis for the determination of identity. Self - identity can be divided into individual identity and social identity. As an important stage of individual socialization,college students form specific behavior patterns and cultural inertia maintain the established social symbolic order by actively constructing the possible elements of identity. In the context of symbolic consumption,the identity of college students highlights such representations of “identity”and“difference”,“conformity effect”and“power effect”,“veblen effect”and cultural identity,school“division”and role identity. Symbolic consumption lead to triple crises of contemporary college students’identity: the lack of self - belonging and identi- ty; the conflict between identities and roles; loss of subculture and subjectivity. Under the symbolic consumption,the identity is recon- structed from the following aspects: to explore self - belonging and position class identity; to weigh“difference”and“power effect”; to standardize social public opinion and reshape the symbol consumption subculture.