This magnificent standard is emblazoned with the image of a red griffon.

This magic banner is part of a wide mantle you can wear attached to your shoulders. The standard can also be affixed to a pole, spear, or polearm, thus freeing up your shoulders slot but requiring you to wield the weapon to which it is attached in order to gain the item’s benefit.
The standard enhances your ability to inspire your allies on the battlefield. When you activate a standard of valor, you can grant one ally within 60 feet another save against a fear effect currently affecting him or about to affect him.
A standard of valor functions once per day, but if you have the knight’s challenge class feature (PH2 25) or the marshal’s grant move action class feature (MH 13), you can activate the standard of valor again by expending a daily use of one of those abilities.

Prerequisites: Craft Wondrous Item, remove fear, possession of a piece of the set.
Cost to Create: 500 gp (plus 400 gp for base item), 40 XP, 1 day.