http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=8122126414&category=4596
Bizarre.
And imagine how unhappy that elf (or his friends) will be with whoever buys this!
. 
It’s probably for an online game like Everquest. They usually list the server the character or item is on though and you pay in game currency like gold pieces or something.
I did some searches of feedbacks associated with the sale. It’s a game alright. Something called Gunbound.
Paul seems to have the answer.
Google found these sites:
http://noldorin.brendoman.com/
http://www.rpgexpert.com/1335.html
Here’s a quote (means nothing to me, but it mentions Elf hair):
“I don’t recommend the Elf hair because then we’d all be clones. Besides, it’s pretty ugly IMO. With just the Elf clothes, we have many options to wear any combination of helmet, goggles, and flag. We’d look similar, but still have our own style.”
http://www.rpgexpert.com/gbarmor/elfhair.jpg
Best wishes,
Jerry