I think theres a fire and electric version too. It adds elemental damage to your unarmed attacks.
http://www.pictars.com/users/blessedspirit/TESV%202011-11-21%2017-44-47-12.jpg
http://www.pictars.com/users/blessedspirit/TESV%202011-11-21%2017-43-53-68.jpg