Is the Khazra Pennant even in the game?!

The fact that nobody has found this yet makes me think it is not in the game. I don't want to waste my time looking for something that has not even been confirmed to be in the game.

Can we please have some confirmation that this item is even in the game?

Feedback would be nice as it could be in the game (since there is a pic of it in their cosmetics preview) , but there is a bug preventing it from showing up.

So, what's the deal with this pennant?