Volatile Rum

Volatile rum is enjoyed by the Southsea Pirates, who keep the secrets of its creation… well, secret.

Source
This item can be purchased for from  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.)

This item can be looted from most level 40-45 pirates in Tanaris and Stranglethorn Vale.

Volatile Rum as an ingredient
This item is used to make: