Adorned Vest from the North

The details of this items discovery are recounted by the battle report that the commoner Petris submitted from the Far East:

After searching the area for 2 hours, following trails and noises, you finally encounter several groups of monsters. You notice that they have a leader, an alpha monster, a really big and ugly one, whatever you want to call it. The battle rages, you against the monsters. Your blows land true and you strike most of them down, while a few manage to flee.

The big one is the last to fall, but after an exhausting fight you manage to take him down, too. In the lair of the big one, you find treasures worth a total of 2 gold, 5 silver. You also find a unique item among the loot, the "Adorned Vest from the North".

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While Petris is only just learning about what he has found, he is more than willing to hear stories from people who are familiar with it...