Unicorn on a Stick

Hold it and a unicorn sits in front of you, so from the side it looks like you are riding one. That is the whole item. It does not move you, it does not fight, and it is not a budget version of the real unicorn mount, which exists separately and is a genuinely good movement option. This is a prop.

One quirk: you cannot hold it in water, which rules out the obvious joke of galloping across the ocean.

The drop comes off Unicorns in the Hallow, so most players meet it while farming something else entirely and never go looking for it. It is a nod to the hobby horse, the stick-and-head toy children used to ride around on.