This item is claimable by redeeming the loot card of the same name from the Legends of Norrath online card game. This loot card was a reward for entering the December 2012 Tournament. However, the Tournament pack which includes the loot card is still available from station.sony.com for $10.00.
At first glance this might look like a useful item to get but it is just a toy item. The effect does only work on PCs (like the snowball that can be thrown at other players).