The Chosen Ones

Excalibur: No, this doesn't have anything to do with King Arthur's sword. Nothing at all. It's not even a reference to it or anything.
Laijsla: Armour fashioned specifically for Fradz. The F letter emblazoned on the chest seems sort of silly, but Fradz insists on it because he doesn't take life too seriously anyway and thinks it's rather fitting. ON HIS CHEST!!! ...Get it?!?! Nevermind.
Strange Stump: A not-so legendary talisman apparently made from some kind of magically stunned treant. How eccentric.
Oelivert: A semi-legendary artefact used by some great Shaman hero aeons ago. It is said that when he died, a forest grew around his grave, and this artefact was lost deep within it. Or something to that effect.
Ancient Leaf: A leaf taken from the corpse of chapter 4 Elite Boss. Awarded for defeating that boss.
Shadow Cloak: This piece of everyday clothing is magically enchanted to provide enhanced speed. But why?!?
Azureus Set: A suit of golden armour blessed by Azureus. You can feel the holiness just radiating off it, like a warm sandwich.
Coin Sword: A golden sword that once belonged to some kind of monarch. Looks expensive!
Jade: This gem sparkles with a myriad beautiful shades of green.
Power Orb: An orb which is attuned to the physical wavelengths and body chakras such that it increases the potential of the body of the wearer. Or something like that.
Energy Orb: An orb which is attuned to the mental wavelengths and mind chakras such that it increases the potential of the mind of the wearer. Or something like that.
Elemental Tablet: This shiny rock was once stuck to the body of a Rock Elemental. It's amazing what can evolve naturally, don't you think?
Skull Shield: 'Alas, poor Yorick!' It feels rather morbid to hold one of these things.
Bug Shield: A shield which is able to summon bugs because of its smell. What do you mean, 'the smell wouldn't do that'? Well, it must be magic, then. Yes. A wizard did it.