This item can be purchased for 16 from <The Drunk> in Dire Maul.
It can also be purchased from the blacksmith in ICC following the defeat of Deathbringer Saurfang, right on his balcony. Limited supply of at least 13. (Need confirmation on the Horde side as well as whether it always appears, or if the item sold is a random chance.)
Volatile Rum as an ingredient
This item is used to make: