I think if items were added at all, the only proper way to go about it would to be give everyone the same selection of items to pick from the character edit screen. I, II, III, IV, V
I is the name/proportions, II is the meshes (ears, manes, etc), III is markings, IV is preset, colors, etc, and also the current end/create point. If items were added, V would be a list of items. Each character would only get up to four items to wear at once, with no 'repeating items' (a character wearing the same item twice).
This eliminates pesky in game "WANT TO TRADE ITEMS?" and "ANYONE HAVE _____ ITEM???" Which happened a lot in IT and was rather annoying.
Also, no personal items. Maybe for staff, because they helped /MAKE/ the game and deserve that little special thing, but no special items for random members asking for one or for friends of staff. :B