Pendant is a Unequippable Item in Dark Souls.
- From gift selection: "Trinket. No effect, but fond memories comfort travelers."
- Note: As of patch 1.0.5, the current game version on consoles, the in-game description of this item is identical to that of the Sunlight Medal; this has proven to be a mistake, as the description in the Prepare to Die PC edition has been revised.
- Can be traded to Snuggly for a Souvenir of Reprisal.
- No other usage, from the director of Darks Souls: “When it comes to the pendant, I actually had a little bit of an intention to play a prank.” 
- Can be selected as a gift upon character creation.
- Can be found at the altar of the Undead Parish, late in the game, if you let Petrus kill Reah.
- Random reward for killing a host when invading through the Cat Covenant Ring in the Darkroot Garden.
This section is left as legacy of player speculation on this subject, even though it has been rendered obsolete by data miners confirming the pendant has no in game effects.
Beware: of spoilers while reading
- Hidetaka Miyazaki, dark souls game director, suggested that the player should choose either the Pendant or Nothing as a starting gift. His suggestion set in motion all kinds of speculation on the Pendant's 'true' usage, but no additional effect or usage have yet been discovered.
- It is speculated that invaders in Darkroot Garden must have chosen the Pendant as a gift, or in their possession, to drop one upon death.
- Based on in-game dialogue (which one ?) the pendant may be an heirloom handed down from the Furtive Pygmy, one of the first to receive a flame. If this is true then both the player (if the item is taken as a starting gift) and/or Reah of Thorolund (her ownership is discovered after certain events) are possibly descendants of the Pygmy.
- Supposedly the player is the descendant of the pygmy, who snuffed his flame in favor of the age of man. Meaning the "bad" ending is really the good ending. And when you consider that Gwynevere seems to be an illusion conjured by Gwyndolin, it seems like she is trying to trick you into disregarding your ancestor's wishes and prolonging the age of Gods, making the "good" ending the bad ending.
- Since it has been said that it is impossible to find its use in the first playthrough, maybe it's required to play multiple times with the same pendant on our inventory to unlock its effect. --- LautrecOfCarim
- There's a pendant in Shadow Tower: Abyss for the PS2 as well. Shadow Tower games are first-person action RPGs and just like King`s Field, another RPG series by From, they are a sort of a precursor to Demon`s Souls and Dark Souls.
In one of the game`s levels you find an item called "Onyx Pendant" (it`s in a chest hidden behind a breakable wall). Its description says "Old-looking item with no obvious value". The pendant proceeds to sit in your inventory till the end of the game as there`s absolutely nothing you can do with that thing. You find tons of weapons, equipment and other items throughout the game and every single one of them has a purpose but not the pendant.
- A pendant called 'Seath's Tear' can also be found by completing a sub-quest in King's Field (king's field 2 in japan). In that game the pendant actually has a purpose, as it will revive the wearer by offering a statue (idol) of Seath.
- Let's see what we know so far; The description says that "fond memories comfort travellers". Reah has one and you get them randomly from forest intruder kills. Reah does not have it on her when she's found praying in front of a statue in Undead Parish. The same statue is found near the Darkmoon Ring and the Sunlight Altar. You can trade it in to Snuggly for a Souvenir of Reprisal. Souvenirs of Reprisal are offerings in the Darkmoon covenant. The description of the pendant matches that of the sunlight medal (could be just a translation error). Please let me know if there are any other connections or clues about the pendant and I'll add it to the list. The only trail I seem to be finding is that it's pointing me in the direction of Gwyn's offsprings or towards "protectors" (Darkmoons and Forest Hunters). Someone pointed out that the pendant also looks dirty or covered in mud. I tried thinking of a way to "wash it off" and thought about dropping it in the Ash Lake. It didn't change anything about it so I decided to quit and reload ala snuggly trade. All that did was make the item disappear. So now I'm stuck with the pendant Reah dropped. I'll try and see if I can do anything special with it in Gwyn's tomb or Gwynevere's chamber.
- UPDATE 1: I think the reason you get pendant drops from human intruders is if they themselves chose the pendant as a starting gift. Which leads me to think it may be a dead end trail.
- UPDATE 2: There could be a connection to Gwyn's firstborn and my gut is telling me that Solaire is probably a descendant of him or has some kind of connection to him and/or the pendant.
- UPDATE 3: I think I'm on to something! I tried to pray in the location Rhea is found in the Parish and nothing happened. But I did notice some clues. Next to the statue in front of Rhea are two murals that depict a bunch of people making offers of pots and other things that are hard to make out. I also realized where else I've seen this statue and it's the one in the Catacombs where, here's the kicker, you find the Darkmoon Seance Ring. I'm now off to the Catacombs to find the statue and hopefully some more clues, but so far my hunches are leading me towards Gwyndolin.
- UPDATE 4: Nothing spectacular happened in the Catacombs but I'm convinced the statues contain some meaning. What do we know about them? Well so far all I know is that there are two of them, one in the Parish and the other in the Catacombs. They look like they depict a maiden or goddess with a child holding a sword/dagger. Could this be Gwyn's firstborn and his wife? Maybe it's the true face of Gwynevere? My gut is telling me to venture into Anor Londo. I think I'll find my next clue there.
- UPDATE 5: I found another statue (albeit smaller) right in front of the bonfire closest to the Sunlight Altar. This could be coincidence. I believe the altar depicts the firstborn himself, but after he was banished the altar collapsed from either neglect or, maybe, he destroyed it himself from the shame of losing his deific status. I think this is a cold trail. I'll continue onto Anor Londo.
- UPDATE 6: The more I look at it... the more I'm convinced that the sword on the statue could be the Sunlight Straight Sword. Could this have been an heirloom of the firstborn? Handed down through generations? Wishful thinking.
- UPDATE 7: God ***** Sen's Fortress... Anyway, my next plan is to lay down the pendant on the dais where you make your offerings of Ears to Gwyndolin. I'm seeing how far the connection between this and getting an Ear off Snuggly goes.
- UPDATE 8: My efforts have given me nothing but Gwyndolin's Soul and the Sunlight Blade, a final farewell of the firstborn to his father, Gwyn. I feel like I've hit a dead end here. My last hope lies in Solaire. I know he returns to the Altar once you've met him in Anor Londo and defeated Ornstein & Smough. Maybe I can find something then. Until then this is the end of my journey. I feel like I've made more foggy connections than answers. But I am convinced that the pendant is linked to Gwyn or his children. I just need to find the link. ... Speaking of links perhaps there is something we can do with the pendant when we face the possibility of linking the flames? ANOTHER TRAIL!
- UPDATE 9: OH! Something just occurred to me. Reah prays in front of a deceased Firekeeper. Either the Firekeepers are somehow related or she is simply praying to the Firekeeper (not the statue) as kindling bonfires are a ritual in the Way of White covenant. In which case it throws my Statue connection out the window.
- UPDATE 10: Right, I just noticed something. Behind Frampt is a statue of a maiden in what looks like the Dingy Robes/Maiden Top of Rhea and the Firelink Keeper holding a child. If you look behind the area you'll notice that there is a large cylinder shaped jut of rock. This leads me to believe that this is actually some kind of chamber and the statue is blocking the doorway. I tried doing the snuggly trade with the pendant in front of the statue and lost my last pendant. So that seems to be the end of the road for this character anyway. Good luck to everyone else. I hope my investigations may be of any help. I am now convinced that the jut of rock is a chamber. If you take the route to the big crow's nest you'll notice the side of it is "crusted away" revealing what looks like a primitive wall of stones. I'm willing to bet my left testicle this is the resting place of the Firstborn. -http://www.reddit.com/r/darksouls/comments/mbsv2/dat_pendant/
- UPDATE 11: I noticed that the only two opened chests in the entire game are located behind Kingseeker Frampt and at the end of the Darkmoon Tomb. After feeding each ring to Frampt, then reloading the character the chest behind Frampt is closed. After opening it, the only rings that are inside are the Darkmoon and Cat Rings (I've noticed that this chest will give you back any important items that you drop / somehow lose, I presume it is just a safeguard to stop you from being screwed. It also gives you back the Covenant of Artorias from my experience) . The Box in the Darkmoon Shrine hasn't closed and can't figure out if anything goes in it... but It makes me wonder, if by placing both rings in one box and whatever in the Darkmoon box opens something.
It occurred to me while I was reading the above quest to find the meaning of the pendant that, while the player was investigating statues of the maiden, he/she forgot about one statue, or rather, a missing statue. In the room where you fight Ornstein and Smough, there is a statue missing, but it's still there if you shoot it with an arrow. I believe that this is a statue of the firstborn, and it may have a connection to the pendant. -Powerline