Blizzard has introduced a ton of items designed for no other purpose than to look cool. Almost every holiday introduces a new set of themed clothes that make you look formal, Oriental, or on fire. There are top hats, pimp hats, and chain mail bikinis. (Alarmingly, some of those bikinis give more protection than full suits of mail). Tailors can make a variety of dresses equippable by characters of all races, factions, and genders.
Most of the white or gray gear that looks good winds up on people's bank alts so they can look good while conducting business in Stormwind. But sometimes I don't want to look like I'm on my way to a wedding. Sometimes I want to look like the fearsome businessman my bank alt is named after. I want a Mad Men-style business suit, navy blue with infantry blue pinstripes and a red tie. I want my bank alt to dominate the Auction House and look like he's doing it in style. Maybe a crisp fedora to go with it, because nothing cuts a better silhouette than a man in a suit and fedora.
What sort of vanity equipment would you make for your characters if you had the opportunity?