From YPPedia

The Ribbon is a trinket. Ribbons are typically handed out in the same fashion as fancy ribbons: runner-up prizes in large-scale events. Gold/Gold ribbons are used in the Booty or No Booty event. Crimson/gold and shadow/grey ribbons were found in Battle boxes.


They are permitted to have two different colors per trinket.


Other Available Trinkets
Bone | Comb | Daisies | Daisy | Fancy ribbon | Handkerchief | Lilies | Lily | Long stem rose | Lump of coal | Mirror | Orchid | Orchids | Parrot feather | Ribbon | Rose | Roses | Signet ring | Skull | Tuft of fur | Zombie hand