This entry of the 20 Days of Blogging struck me as a bit odd. I could easily say that my Asus G73 laptop is my favorite game item, but it is not IN-game. Neither is my wedding ring, though that is pretty awesome, too, and sort of fantasy-, if not gaming-related.
So. In-game items:
For WoW, I'd have to say my Violet Proto-Drake, awarded for completing all the holiday festival achievements. At the time, the only other way to get a super-fast flying mount was to win a drop in whatever the current endgame raid was. I'd say I worked at least as hard as they did to get all of it done; and it was well-rounded, too, involving PvP, group instances, and solo achievements.
A close second was not an individual item, but my minipet collection. I loved pulling out rare companions and having people ask where they had come from. My favorite of those was Miniwing, which was ironically very easy to obtain through a quest in eastern Terrokar Forest, near the Bone Wastes.
From STO, I love my Nebula-refit starship, the U.S.S. Peregrine. I had loved the Nebula class since the last shot of Star Trek Generations of the Farragut rising above Veridian III, and was disappointed that it was not one of the possible ships when STO launched. That the ships are customizable means that a lot of the ships I have are "favorites." But this one is the mostest favorite.
I don't really have any one favorite item from other games. The topic prompt took me a little by surprise, honestly. I am a bit of a hoarder, my banks are often full of stuff I no longer need. Come to think of it, so is my garage.