This is wrong, If you wanna find this item kill elites - I highly recommend you go to the Fairy Settlement triport in Lake Shiverwave. Run left, kill that elite. Run right (sometimes there's an elite) on the immedtiate right of the triport. Then, run southwest through the Destroyed Sylvain Settlement for another 2 elites. There's a final elite at the end of all the jumps as well.
If you hover over the item, it says: Elzowin's Shade Combat - Monster. I got two in the span of 4 minutes killing Lucky Monsters, the ones with random effects like fear or gravity, in the West Stardust Forest of Elzowin's Shade.
I got it in Destroyed Sylvain Settlement in Lake Shiverwave . You go south than -- west from Sylvain Settlement mark on the map and kill the Frenzied Ice Construct. Hope it helps.
(I was trying to Fairy Settlement for a long time nothing -Sylvain Settlement - 3th kill was a drop)