The bee does in fact drop the shield. It's not too rare, either. Maybe.... 20% chance? The shield of bee adds 8 defense, 2 attack, and gives you 4 additional points of life. Very good for beginners. The pink rabbit is even faster than the blue bee. It drops the hat of healing (witches hat looking thing you see on some people). It is much rarer, but it still has a drop rate about twice that of the longsword. I'd place it at 10%, I guess. It's a pain to get. The hat of healing grants you a magical health regeneration, but it only gives 1 defense. The magical effect is about equal to your natural health regeneration, so it effectively doubles your health regen. Also, since the added health regen is a magical effect, it is not canceled by combat.
Where does the Longsword come from?
It's a rare drop from Ratingar. He has about a 5% or less chance of spawning with one. I feel I should note that only the unique animals (and Ouric's chest, I guess) have a chance of dropping items. For all the other rare items, enemies have a chance of spawning with them.
I am from the future, I come from 2017 and people amazingly still play this gameLove to Aberoth, Praise Aberoth.