Starting yesterday and lasting for two weeks it would seem there is an Easter related event running in Final Fantasy XI. The basic idea is every game day (56 minutes) you can talk to a specific moogle in each city in order to get a free egg. These eggs have letters on them and your goal is to spell out specific things to get rewards. With 26 different eggs and getting at most one an hour this is rather reminiscent of the World of Warcraft Hallowe'en hat event. As in, statistically improbable to get a complete set. There are several notable differences here, most importantly that the eggs are not exclusive and can therefore be sold to other players. In fact, I first realized the event was going on when I saw a huge upswing in the number of characters standing around the entrance to the zone with their bazaars turned on. (In FFXI you can mark any item in your inventory as for sale with a price and anyone inspecting you can check out what you have for sale and buy it if they like the price. I used to do this with fishing bait.) Also you don't need to get one of every letter, though you will need many copies of specific letters. Here's what you can turn in and why you might want to do so.
The first three letters of your character name. Trading these eggs to the moogle will reward you with an egg hat and the ability to hand in the rest of the sets so everyone who does the event has to do this one first. The egg is mostly a vanity item but does modify what you can dig up when you're doing the chocobo digging profession. (It makes you dig up various eggs.) It also slightly changes the way you get eggs each hour as well. Typically you get a completely random egg when you talk to the moogle but if you're in a party with someone you can force the moogle to give you the first letter of their name. (Anyone want any Zs?) If that person is wearing an egg hat you instead get two eggs matching the first two letters of their name. (How about some Is?) It's also a level 1 hat with 1 defense which is better gearwise than the no-hat I'm currently wearing on my BLM... You can also get extra eggs each hour by trading other in game eggs to the moogle but I imagine that's not terribly cost effective.
Seven of a kind. This gives you a ranged slot item with 1 vit and 1% mp. Seems ok.
Initial straight eight. This is your first initial along with the next 7 letters of the alphabet. This gives you a ranged slot item with 1 vit and 1% hp. Also seems ok. Also apparently can be obtained with a second set of seven of a kind.
Spell the name of the element associated with the current game day. This gives you a ranged slot item with 1 singing skill and a latent ability of 1 accuracy, 1 attack, and 1 evasion. You need to have a song or roll buff to get that effect. Also seems ok if you have a bard or corsair in your group.
The first 5 letters of a region. This gives you a piece of furniture based on the city that controls that region. There are a whole bunch of different egg related furniture you can get most of which seem to boost the amount of gil you loot from mobs. If you want to make your house look all eggy this is a good way to make that happen. My house is completely barren right now (what can I say, I'm poor) so maybe getting some tacky egg furniture to spruce up the joint would be nice.
Overall it doesn't seem like there's anything game breaking to get from this event and it costs a lot of precious inventory space to hold all these different types of eggs. If people are actually buying eggs it might be worth doing for some quick bucks and I kinda want a 1%mp egg just because I have no gear for that slot right now but beyond that it doesn't seem like a big deal.