Does not drop if you have one in your inventory or closet already.
Prior to February 7th, 2008, this item was called the "crusty L-shaped piece of metal" and its image was . Its description was:
This is a crusty piece of metal shaped like an L. The crust on it is also shaped like an L.
References
The item description refers to the theme tune of Shaft, specifically the line "Who's the black private dick that's the sex machine to all the chicks? Shaft!"