I tried a few -- this was my favorite of the bunch:
Dwarven Boxer Shorts of Fire
This sturdy pair of tighty-whiteys is constantly wreathed in magic fire when worn. Additionally, the user smells like a dwarf. . It comes with a special scabbard, which is the only way to safely contain the flames.
Edit: Although for the name, it would have to be"Imaginary Rope of Security"