There has been some confusion lately on what would be able to be traded. I'll try to summarize
MY idea on this
NEEDED function.
Items able to be traded:
-Hats
-Items
-Furniture
-Gralats
-(Maybe EC sometime soon? 
)
Hats
This includes:
-Hats previously released
-Hats no longer available
-Hats won by special events such as GST and Hide 'n Seek
This does not include:
-Guild Hats
-Hats that are not released and are not approved to be traded.
(such as hats obtained in spars)
Items:
This includes:
-Jump ropes
-Morphs
-Pogosticks
-Hula Hoops
-ETC.
This does not include:
-VIP items
Furniture:
This includes:
-All furniture released
This does not include:
-Furniture that has not be released for sale soon.
I hope this clears things up...