A bonded version of the Faerie Light is obtained by reaching the highest level of Karma (Shunnyo/Angel) and performing Mentor one more time. This creates a popup allowing you to obtain your Faerie Light.
A non-bonded Faerie Light is rarely dropped by the Horse3 item boss, Horse defender.
Durability - 5000000/5000000
Damage - S: 80m90 L: 80m100
AC : 0 Hit : 0 Dam : 0
Vita : 0 Mana : 800
Might : 0 Will : 10 Grace : 0
Protection : 0 Healing : 0
Peasant Level 70
Might to Wield : 0
Casts : None
Non-bonded market price: 4,000,000 to 6,000,000