The Enemy's Insignia

What is this? This quest The Enemy's Insignia is started by the item Captured Insignia - that you can turn in with the Darkmoon Faire whenever it is in town.

How do I get it? In order to be eligible to loot Captured Insignia, you must have the [item=71634] in your bags inventory - which can be obtained in one of two ways:

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• Receive it as a reward from Gelvas Grimegate after completing The Darkmoon Faire for Alliance or The Darkmoon Faire for Horde.
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• Receive it from Selina Dourman just by talking to her, she stands at the first tent on the left-side of the entrance to the Darkmoon Faire.
  Note: if you have The Darkmoon Faire quest in your quest log, Selina will not offer to give you the guide - you will either need to drop the quest and speak to her again or simply hand in at which point you get the guide anyway.
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Where do I get it?

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• Captured Insignia can be looted by removing insignias from fallen enemies in battlegrounds.
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Why do I want it? There are several reasons that you may want Captured Insignia:

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• Receive 5 Darkmoon Prize Tickets upon handing it in - these tickets allow you to purchase mounts, pets and other collectibles whenever the Darkmoon Faire is on.
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• Receive 250 reputation (or more depending on your racial/guild bonuses etc) with the Darkmoon Faire - great for anyone who is either a rep junkie or is working towards The Insane title awarded by the Insane in the Membrane achievement.
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• Having completed this quest will count towards the achievements Darkmoon Defender and Darkmoon Despoiler.
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• Gold gold GOLD - since Captured Insignia isn't BoP (bind on pickup), it is tradable and sellable via the auction house. If you don't care about the above three points, then you can profiteer from someone who does!
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What else do I need to know?

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• The quest can only be turned in once per Darkmoon Faire. You can certainly collect more of these, however if you've turned in for the current faire, you'll have to wait till it's next in town.
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• Captured Insignia can be looted anytime - that is to say, the Darkmoon Faire does not have to be currently on in order for you to be able to find these puppies.
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What other Darkmoon Faire drops are there?

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• Fallen Adventurer's Journal -> The Captured Journal = 5 x Darkmoon Prize Tickets
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• Banner of the Fallen -> A Captured Banner = 5 x Darkmoon Prize Tickets
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• Imbued Crystal -> A Curious Crystal = 10 x Darkmoon Prize Tickets
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• Monstrous Egg -> An Exotic Egg = 10 x Darkmoon Prize Tickets
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• Mysterious Grimoire -> An Intriguing Grimoire = 10 x Darkmoon Prize Tickets
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• Ornate Weapon -> A Wondrous Weapon = 10 x Darkmoon Prize Tickets
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• Soothsayer's Runes -> Tools of Divination = 10 x Darkmoon Prize Tickets
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• A Treatise on Strategy -> The Master Strategist = 15 x Darkmoon Prize Tickets
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Will frequently amend and extend this post as users request it or as I learn more.

Please keep in mind that the quest is not repeatable during one DMF festival. After you complete the quest you cannot get it for the second time, as it states when you use an item for the second time "You have already completed this quest". In other words - you can do the quest once every month.
Now, to all the naysayers, Blizzard has confirmed that these quests are to be repeated each month. Source
They have also stated that the quest drops that happen in the dungeons/raids/BG’s happen all the time, even if the faire isn’t in town. Source

Upon completion of this quest the quest log says:
"This is a remarkable example of an Alliance officer's insignia. While many of them visit the Faire, none are willing to part with ther badges. Would you be willing to accept some Darkmoon tickets in trade?"
What bugs me is, that I'm a night elf. I feel like I killed one of my own...

Edit: typo