take the ribbon to rhinostary to Kerutoto, the guy that's sleeping and trade with him, hel'll give you 3600. after a certain time, don't know how long (i waited around 12 hours real time), go back and talk to him, and he will ask u to find the person who owns it and give you back the ribbon. then stuck at next step anyone know how, where?
look up blue ribbon blues. the next step requires going to eldy necropolis and trading the purple ribbon to the hume bones. then a lvl 60 NM spawns, u kill him, check the bones and u get a blue ribbon. u talk to kerutoto again to finish the quest. then he'll give you the starmite quest, and then u can use the enterance to the torami canal. my spelling sucks ; ;
A lady in the item shop near Auction House in Windurst Woods (the one that sell Ranger/Bard stuff) gave me that saying she can't get rid of it and kept coming back to her. I think the ribbon 'said' something like "Is that home?". I don't know why she gave it to me freely and if it got to do anything with a quest. At that time I had level 7 of 9 fame in Windurst I think.