There are eight kinds of loot bags, as shown below. Each contains a different type of loot when dropped from an enemy. All bags make the same sound when dropped, and all have a lifetime of 60 seconds. The lifespan does not reset by adding/removing items to/from the bag.
Higher-level bags may contain extra loot that would normally come in a lower-tiered bag. (Temporary consumables are an exception, only dropping in brown, pink, and boosted bags.)
Bag progression is in terms of least priority to most priority:
Brown Bag: The brown or “public” bag is the least valuable, and its contents can be seen by anyone. Tradeable items dropped by players appear in these. When dropped by enemies, brown bags may contain temporary consumables: restoratives and certain intoxicants (which can regenerate HP/MP and/or cause other effects), as well as battle assistance items.
Pink Bag: Colored a bright pink, this bag contains only low-tiered equipment (tiers 1-6 for weapons and armors, 1-2 for abilities, and 1 for rings). As these are public like brown bags, any player can take the equipment found inside.
Purple Bag: This bag is colored a dark purple, and holds mid-tier loot (tiers 7-9 for weapons and armors, 3-4 for abilities, and 2-4 for rings). It also appears for untradeable items dropped by players (such as a pet food or untiered equipment). All bags of this rarity and higher are soulbound, which means only you can see them and their contents.
Egg Basket: The soulbound basket can contain pet eggs of all rarities, from common to legendary. It can be dropped by realm gods, events, and many dungeon bosses. Legendary eggs are incredibly valuable and rare, so make sure to check these baskets if dropped from events or dungeon bosses or you might miss a legendary pet egg.
Cyan Bag: A soulbound light blue bag sitting upright, with a crimson string wrapped around the top. Dropped by events and dungeon bosses, this bag contains the highest-tier loot (tiers 10-12 for weapons, 10-13 for armors, and 5-6 for abilities and rings) as well as weaker untiered itemsand treasures.
Blue Bag: This full-looking dark blue bag is lined with a golden string and is soulbound. This bag contains stat-boosting items: typically stat potions, but also tinctures and party drinks. Potions drop from gods and most bosses.
White Bag: Colored a majestic white and tied with a beautiful blue string, these contain some of the rarest untiered items and are considered the best type of bag. White bags drop from all events (except Ghost Ship) and many dungeon bosses, but at low rates; some are easier to find than others. The untiered items that drop in these can often change the way that characters are played and are therefore highly sought after.
Boosted Bag: This bag is colored red and lined with a yellow string. Boosted bags can only be found while under the effects of loot potions. These take priority over all other bags, as long as the effects of the loot potions boost the contents that would have been within the normal dropped bag.