WoWDB

In Warlords of Draenor, this item will be added to the new Toy Box feature and no longer take up a bag slot.  You will be able to "use" the item straight from the Toy Box interface. 

The Toy Box will be account-wide and therefore so will this item.

This is a rare-quality archaeology project. It requires 100 x  Night Elf Archaeology Fragment to solve.

Wowpedia notes that players must have at least 150 skill to find, but a highly-rated Wowhead comment says he or she got the project at 120 skill.

Also, for rogues and mages who PvP, this item can be worth the time it takes to acquire it.  There are some macros that make great use of the item. :)