You Like Expensive Hats?

Cause if this thing was a hat, it’d be much more expensive.

Valentine’s Day has come and gone, but not without Valve taking full advantage of the occasion with their $100 real money, in-game item: The diamond ring. Valve has openly said that the untradable (only giftable) item is utterly useless and broadcasts the fact to the entire Team Fortress 2 community world that you just spent $100 on something useless. This only activates however, if the recipient accepts the gift.

Perhaps as a gesture of goodwill (since you just spent $100), Valve has also made it possible to name the thing; an option they may regret. Why? Imagine this being broadcast to the entire world:

[PS]Alfon has given [PS]FacTor-X a $%&#@!

Yeah, exactly.

Source:
Team Fortress 2 Blog