South
Bonfire Amulet
Broken Amulet
Golden Scorpion Pendant
Bronze Necklace
Silver Necklace
Amazon Shield
Blessed Shield
Shield of Honour
Rose Shield
Eagle Shield
West
Girl's Dress
Tunic
Throwing Star of Sula
Yol's bow
Elethriel's elemental bow
Lich Staff
Wand of Dimensions
Thunder Hammer
Hammer of Prophecy
Dark Trinity Mace
Light Mace
Solar Axe
The Epiphany
The Calamity
Warlord Sword
Magic Longsword
Dragon Scale Legs
North
Winged Helmet
Crown
Ceremonial Mask
Golden Helmet
Horned Helmet
Amazon Helmet
Ball Gown
Red Tunic
Witchunter's Coat
White Dress
Native Armor
Amazon Armor
East
Message in a Bottle
Doll (Blond)
Babel Swimmer
Surprise Bag (Yellow)
Yellow Rose
Armageddon Plans
Grey Tome
Ornate Tome
Mysterious Scroll
Crackling Egg
Menacing Egg
Boots of Waterwalking
Bunnyslippers
Patched Boots
Pinata Dragon
Roc Feather (removed in 2020)
Something Crawling (removed in 2020)
in 2020 they added:
Eye of the Storm
Seal of Quality
Source thanks to the Youtube Video by Lee Kun and part of Oriibsz answer~ In the Isle of Merriment they sometimes change the items.
According with the last visit I have made on Test Winter Update 2020, this are all the items you can find and their locations:
Was my first time on the isle I literally take pic of everything XD.
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