Erebrandir means "Lonely Wanderer".
- During the instance The Infiltrators' Surprise, wearing the horseshoe will spawn Jon Sandheaver, a Hobbit in a skeleton costume, proclaiming his fondness for turtles in reference to an Internet video.
- Wearing the horseshoe will change "exactly one line of text in one quest in the same Epic line that you get the horseshoe."
- Wearing the horseshoe during the snowball fight in Frostbluff grants a short immunity to the impairment effects of snowballs - - in reference to a line from the movie The Matrix.
- Wearing the horseshoe during Instance: An Echo of Days Past will let you see the mysterious visage twice instead of once in the cave of The Old Father. Climb to the upper levels behind where you entered the cave of The Old Father to see a mysterious visage wandering about. It doesn't matter if you are wearing Erebrandir's Horseshoe or not. Further ahead, when you reach the lever, look across to the other side and you will see the mysterious visage again, but he only seems to be there if you are wearing Erebrandir's Horseshoe.
- Wearing the horseshoe during Instance: The Perfect Recipe will trigger the appearance of an additional guest at Bingo's dinner party.
These effects have been denied by the developers:
- Improve fishing.
- Affect loot from chests.
- Increase the crit chance for Relic combining.
It has been suggested, but never confirmed, that equipping the Horseshoe might:
- Improve your chance of looting shards when Prospecting and Foresting.
- Improve your chance of getting on stage in theater at Frostbluff.
- Improve your chance in the Treasure Hunt event.
- One of the dwarves in the Treasure Hunt suggests to take something lucky into the fields, saying that "one should always carry a lucky item in their pocket, like a horse shoe."
- When equipped in the Treasure Field the Horseshoe provides a buff.