In Turbo For Hire and in the BrantSteele Hunger Games Simulator, this item can take on one of two roles. This depends on who is holding the item.
With Turbo Secretii Edit
If Turbo wants to keep a job in Turbo For Hire, she must keep this item safe from Dragonlord at all costs. So far, Dragonlord has found a way to steal this item from Turbo during every job (episode by extension).
With Dragonlord Edit
This item can also be brought out by Dragonlord once he wins a Hunger Games simulator round. It is then involved in his victory pose, which also means that Dragonlord uses this item to plunge his surroundings into darkness.