I got the Lovely Maiden Figurine from the December 2012 Chance Bag, and it has the Transform Item! option. I don't want to transform it, but what happens if I did?
It'll change into another form of the wig. You can change it back and forth as many times as you want. c:
There were two extra items not listed in the choices I had when picking an item. I'll suppose that the Maiden figurine transforms into the Viking figurine, which is a beard wearable.