no. There is no such item.
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It is any number of action replay codes that allow the top item in your inventory to be come almost anything (and often 999 of the item, too).
When looking at the item, it does say "a Pokemon loves this item". It is a hint to give a Pokemon that item. Well that Pokemon is a rhydon. Give a rhydon that item to hold. Trade it and see what happens...
Take the item your Pokemon is holding the item will be added to your bag.
It is a hold item that powers up Ghost and Dragon moves. It is the signature hold item of Giratina and will allow it to access Origin Forme should you migrate one over.
Easy.Just select Pokemon on your menu then select the Pokemon you want to take the item off.After that go to item and select take.Then the item will be taken and you can give another item to the Pokemon.If you want to take an item off your opponent you have to use the move Knock off.But your opponent gets their item back after the battle!