Jade carving
From YPPedia
The Jade carving is a trinket awarded to experienced players1 by Madam Yu Jian upon defeating her in sea battle. It will be inscribed with the message, "Ransomed by Madam Yu Jian to <Pirate> on <date>." Available in these seven colors, it can be held in a portrait.
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1 On doubloon oceans, the player must be holding at least a Pirate badge. On subscription oceans, the player must be subscribed.