Mythril Vest: A suit of armour made from the highly unique-to-this-setting metal called 'mythril'. It's not an especially exciting armour. Its favourite colour is probably grey.
Orb of Stats: A clear crystal ball. It's probably magical. I mean, everything else is...
Toxic Sting: The stinger from a scorpion type thing. It still holds some potent venom.
Outer/Inner Stone: A magical stone which is totally not a potato.
Platinum Ring: A ring made of platinum. Obviously.
Speedy Gauntlets: A pair of gauntlets. It's not enchanted so it doesn't do much.
Magical Shoulders: A piece of armour usually worn by mages. Its name is stupid.
Spider's Anus: This is rather unpleasant. Why did you pick it up? Ew.