The college paper quotes him giving this advice to the candidate: "He needs to avoid saying (expletive) in his speech and sexual come-ons to women around him.
"He also needs to avoid going, 'I dunno if I can do this, I'm scared.' Other than that it'll be alright."
David is also quoted threatening the Dartmouth students who are undecided between Obama and Edwards.
"Okay, alright," he said. "If you don't vote for Obama, I'm never doing the show again."
One student reportedly asked him which Seinfeld character would make a good president.
David thought for a minute.
"Newman," he said. "Because everytime he would give a press conference and walk up to the podium, everyone would say, 'Hello, Newman.'"
With David in Obama's entourage are media maven Ariana Huffington, as well as the Hollywood agent who inspired the character Ari Gold on HBO's "Entourage" -- Ari Emanuel, brother of Rep. Rahm Emanuel, D-Illinois, the House Democratic Caucus chair.
He's the one talking on his cell phone.
It's not the first time a Seinfeld character has been mentioned on the campaign trail. As ABC News' Jake Tapper noted, former Gov. Mike Huckabee, R-Ark., compared former Gov. Mitt Romney, R-Mass., to George Costanza, calling both "expert" liars.
Barack Obama's final campaign rally included a scene that was life imitating comedy.
A Dartmouth student collapsed at the event, forcing the rally to an abrupt stop.
Comedian Larry David immediately perked up, saying "I have a great line, I have to use it."
He rushed over to the metal barricades at the edge of the press riser, stepped up ... and then lost his nerve.
He then went over and tested his line on Hollywood agent Ari Emmanuel who was sitting nearby.
"Go for it, L.D.," he encouraged.
David hesitated a minute, then went back to the barricade just as the stretcher wheeled the poor student away.
He cupped his hand to his mouth and called out to Obama: "Sinatra had this effect on a crowd."
Obama smiled. "That's right, Larry."
But no laughs.
David was clearly disappointed his line fell flat. "I got nothing," he sulked, and then he wandered off.