What I'm wearing right now:
Lv. 10 pyjama pants: They're comfy, warm and nice looking. Not much else, though. Also occasionally serve as undergarments. Cold resistance +3, defence +3, HP healed by a tent (or other sleep-based healing item) +10%.
Lv. 3 shirt: A green tee-shirt made of pretty durable fabric. It's more colourful than the default equipment, but other than that it's not that much better. Cold resistance +1, defence +5.
Lv. 1 bracelet: A worn-out leather bracelet. Offers no special effects. Defence +1.
Lv. 10 bracelet: A slipknot band on the other arm. Was received at camp as a symbol of friendship. Gives no stat boosts. Gives stat boosts depending on closeness with other party members, up to a max of 10%. Can't be de-equipped. Seriously. This thing is hard to take off.
Set bonus: Sleepy time! Unlocked when wearing only bed-time clothes and small accessories. +50% health recovery when using a bed, auto-regen while asleep otherwise, -50% sleep resistance, -25 charisma in public.
Some of my best stuff:
Lv. 90 shirt: A designer golf shirt. Looks really nice and really expensive. +5 cold resistance, +5 defence, +70 charisma.
Lv. 60 hat: A patrol cap worn everywhere. Its brim can help the wearer avoid eye contact. Adorned with 9 buttons that give various bonuses, though they sometimes receive funny looks. +5 cold resistance, +10 sun resistance, +2 defence, -25% chance of anxiety, -5 charisma. Buttons give: +5 defence, +5 enthusiasm, +15 charisma when dealing with fans of video games.
Lv. 55 headphones: $30 headphones that are surprisingly good. Wearing them makes one appear antisocial. +5 defence, -50% chance of anxiety, -5 charisma, +15 courage in crowds, immunity to hearing-based attacks, -75% chance of boredom when music player is equipped.
Lv. 45 necklace: A pewter necklace adorned with 2 charms. The chain itself does nothing. Current charms equipped: Charm of protection, shaped like a shield. +5 general damage resistance, +5% status resistance; Charm of courage, shaped like a lion. +5 courage, -5% chance of anxiety.