I'd have to go with the following: activate cure mortal wounds 1/day, activate life 2/day, Activate purify 2/day. At my current build, it offers me access to more powerful spells, and when I was at higher levels it'd offer extra spell power that could be the deciding factor in whether or not someone ends up rezzing. The item itself would be something small and childish (the exact sort of thing my hobling would love), like a tiny plush knight that'd fit in someone's pocket.