Part of the Madcap's Outfit set:

The set gives these bonuses as more pieces are worn: 2: +20 Attack Power. 3: Decreases the cooldown of Blind by 20 sec. 5: Decrease the energy cost of Eviscerate and Rupture by 5. Set Details | All Sets

Quest Reward from:

Level	Name	Start	Rewards
60	Paragons of Power: The Madcap's Bracers  (Raid) Horde and Alliance Zul'Gurub	Falthir the Sightless Stranglethorn Vale	6600 XP