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Fayre Mallet was discontinued after an update, but can still be activated if owned.
Fayre Mallet
Release date 24 April 2017 (Update)
Members No
Slot Two-handed
Equipment Melee
Recolourable No
This cosmetic will not display
in PvP-enabled areas.

The Fayre Mallet is a two-hand melee weapon cosmetic override reward unlocked by consuming a mallet token, which can be purchased from Rixie during the Spring Fayre for 900 Fayre prize tickets, or rarely found while participating in activities during the Fayre.