This gives you the Elf Rank in game & the Elf Hat. You can see an image of the Elf Hat by viewing the image below, equip it in game by using /cosmetics and clicking the Elf Hat! The Elf Rank grants a Red -> White -> Green chat gradient in game when equipped. 

You can equip your rank in game by doing /ranks, clicking Cosmetic Ranks and scrolling over to the Elf Rank. You CANNOT equip two ranks at once. If there's any issues, feel free to open a Ticket on our Discord describing the issue.