The rarity of Iceburnt Elegy is Mythical, and been equipped it takes a “Bundle” slot. At this moment the item is available for trade.
Iceburnt Elegy is a skin for Winter Wyvern. The skin was added to the game on April 26, 2016.
Iceburnt Elegy has been recently added to the game, which makes it rather popular with the game community.