Daisy Memento. I got it from the free gift. One of the options with it is 'Throw it in the water.' What does that mean? (I just want to know whether or not it's just a 'throw this item away' sort of thing...)

if you toss it in the water, you'll be granted access to Port Plunder on the Omen Islands... that is, if you completed the map for it.

Oh!~ Okay. Thank you both, for your help. -^^-

What if you were a pirate? I have the flower, unsure what to do with it.

Lynelle, I'd hang on to it--eventually it will most likely be worth a lot! ;) Many 'free gifts' (if they do not become regular items) do increase in value as they become less available.