You see a dragon claw.
It weighs 12.50 oz.
It is the claw of Demodras.
Notes
Only lootable from Demodras. It can be obtained as a present from Santa Claus.
Needed for an addon of Warrior Outfits.
You will have a chance to kill Demodras if you are a Trophy Hunter of Paw and Fur Society.
History
Before the Summer Update 2009, this item's sprite looked like this: . With the same update, an Unobtainable Item using the old sprite was implemented, the Dragon Claw (Green).