Patch 1.1.5 is now live for Sea of Thieves, and its brought a few new cosmetics along with the expected quality of life improvements. The most notable among these is the Bear and Bird figurehead, an item made to celebrate the twentieth anniversary of Banjo-Kazooie and limited to the month of July. Players looking to pick it up before its gone will need to fork-over 1998 gold in order to give it a permanent home on their ship or in the vault.
Source: N4G PC Sea of Thieves Adds Bear and Bird Figurehead, Fixes Issues