When entering your inventory you will see a ring shaped icon at the top right of your player display.
(The armor symbol at the bottom right is Cosmetic Armor)
In this bauble section you will see:
1 Amulet Spot, 1 Head Spot
1 Body Spot, 2 Ring Spots
1 Belt & 1 Charm Spot
The spot beside the belt spot is your offhand/shield item
At the bottom of certain baubles you will see in yellow what slot they can be accessed in.
(For instance a Tool Belt is only in the belt slot)
When equipping these baubles you may see Quality: followed by some buffs or debuffs.
This also shows up on your Tools, Weapons, & Armor
This can be changed with a Reforging Station
Be warned there are 2 types of Reforging Stations and while your Armor, Tools and Weapons can only have 1 quality, Baubles can have 2.
The Reforge Station made by Bountiful Baubles is craftable with 1 Anvil, 1 Crafting Table, and 1 Bucket of Lava and uses your XP to change the Quality of only baubles.
The Reforge Station made by Quality Tools is a tiny bit harder. It requires 2 Obsidian, 1 Crafting Table, 1 Anvil and 2 Stone Slabs and requires a material used in the crafting of the item to change it's quality. (For instance a Diamond Pick is reforged with diamonds)
It is worth noting that a Nether Star works in changing just about any item's quality.
In these reforge systems a Pink or Gold Name means it is a higher rarity and a better quality than the others. Whilst a Gray Name is a very Common Rarity.
