The 1932 Howard Payne Yellow Jackets represented Howard Payne College (now known as Howard Payne University) as a member of the Texas Conference during the 1932 college football season. Led by fifth-year head coach Joe Bailey Cheaney, the Yellow Jackets compiled an overall record of 7âÂÂ1 with a mark of 4âÂÂ0 in conference play, and won the Texas Conference title for the fifth consecutive season.