Bull roarer... from Legends' Quest. Back in the day you could swing the roarer around, and everyone within a 10 square radius could hear it. It was especially fun to use it in the G.E. to annoy everyone lol.
My favorite all time item I own is my White Partyhat. Holds alot of history for myself. I was able to afford one for 176m cash back when trade limit was in-game. I've thought about selling it over the years but ultimately keepsaked it.
My favorite collectable item are Anagogic orts.
http://puu.sh/g2UHZ/5a4cdc8c92.png