I just have so many random item ideas, I figured I would dump them all in one big thread.

Pickups:

Changing Booth - A rarely dropped (think mecha knight kit) pickup that when used will surround the player in a tiny portable changing booth, allowing him to switch out gear in the middle of a dungeon. Must be done in safety, as any source of damage will destroy the changing booth. This coupled with the item's rarity balances out its extreme usefulness in situations where a player finds themselves in that royal jelly palace without their cauterizer, or in a graveyard without any shadow or curse resistance..

Armor:

Benevolent Mantle - A piece of body armor that while lacking any particularly notable defenses, has a good health bonus and a very unique special ability. Whenever the player wearing it is standing near a teammate with less health than themselves, their health will be slowly given to the teammate in very small increments until their totals are maxed. (if multiple valid teammates are nearby, it will always start with the one with the least health, until nobody nearby has less health than the equipped player)

Shields:

Reactive Shield - An explosive-laden, spiky shield for the player concerned more with dealing damage than preventing it, the reactive shield will have less health than any others but whenever successfully blocking an attack will cause damage and knockback to enemies in melee range.

Reflector - A shield that can reflect projectile attacks back in the direction they came from! Knight is immobilized while blocking, however.

Ghost Module - Not exactly a shield but being equipped as one, this device, when activated, will allow the player to phase out, causing attacks of any sort to pass harmlessly through them and also allowing them to walk through enemies. It will have a health rating like normal shields, but the health will deplete based on time rather than damage absorbed. The advantage, apart from the walking through enemies thing, is that it would allow you to survive an onslaught of any size.. as long as it all happens in a brief amount of time. The downside is that you need excellent timing since it will deplete if used when not being attacked, and it would be absolutely horrible at surviving prolonged onslaughts such as a gauntlet of turrets.

Dash Module - Similar to the above, the Dash Module is the ultimate in technology for the reckless and impatient! Instead of protecting the player directly, hitting the shield button will instead double their movement speed (also at a relatively short time-depleted health gauge). Why block an attack when you can just get out of the way? The obvious benefits of being able to dash around are matched by the fact that it DOES deplete after a couple seconds and must recharge, and lacking an actual shield means certain doom should the speed-favoring knight carelessly get themselves cornered.. or have to wade through a sea of incoming projectiles too dense to dodge.

Bombs:

Claymore - A bomb based around a directional charge; instead of exploding in a radius the claymore fires a tight burst of short-range projectiles which can do tremendous damage to single targets. Great against stationary or large, slow-moving enemies, but difficult to use on anything else.

Robo-Bomb - An adorable little bomb with mechanical legs and basic guidance systems, the robo-bomb will get up a second after being deployed and run towards the nearest enemy, exploding when it gets close enough. While the damage is comparable to regular bombs, the blast radius will be small as the added mechanical and electronic components left less room for explosives. Best for finishing off that hard-to-reach straggler after the enemy ranks have been thinned a little.

Rain-Maker: A portable explosive launcher that when set will begin firing miniature bombs skywards, to rain back down over the course of a few seconds time. The overall radius will be noticeably larger than a standard bomb's blast radius, but the bomb-lettes fall randomly within it and each does a fairly small amount of damage in a fairly small radius. Ineffective when taking on lone enemies, but handy when facing a very large group.

Guns:

Crossgun - Superficially resembling a medieval crossbow, the cross-gun's basic attack is a no-nonsense (by which I mean no special effect), 2-shot combo of decent damage. What sets the gun apart is the charge attack, consisting of a narrow beam that pierces targets, able to hit an enemy even if others are in the way.

Vial Launcher - A large cannon capable of generating and then firing vials (at scaled-down strength levels, of course)! Just two problems: First off, it's a single-shot weapon with a reload time that makes the punch gun look speedy. Secondly... you have no way of knowing or choosing what will come out next. You make get something useful and deadly like a fire or shock or curse vial... or you may get something far less helpful, like a sleep vial. You may even find yourself accidentally lobbing a healing or recovery capsule to the enemy you were trying to hurt! The charge attack would launch a larger vial, with all the same restrictions. Truly, a weapon for the most courageous knights amongst us who really won't mind ticking off their teammates.

Sword:

Pillow - ... What? The game needs some novelty weapons. Low damage, high chance of stun? Thrown projectile pillow charge attack? Satisfying puff of feathers on every hit? I think so.