This is a Shadow themed lanyard. It's gray tough cloth, with the word "Shadow" printed facing each direction. There are also little line-arts of Shadow's head. The end has a metal clip with a fine cord for kyechains/phones/accessories. Is this real, or a fake?
It's easy enough to fake simple lanyards like this one, but then, there are also official simple-design lanyards too. Write in if you have proof!