As I read through some published modules and plan my new fantasy campaign I substitute every bland magic item and vanilla +# weapon with something more colorful.
This is my reworking of a simple +1 shield.
Medium wooden shield.
This round wooden shield is secured to the arm with a thick leather strap at the back. It is rounded around the edges so as to be almost hemispherical. The shield feels light on the arm and actually weighs approximately the same as a small equivalent (EV2/3 lbs.). In the middle of the front is a very worn painting of a closed reptilian eye.
Created and once owned by a beastmaster that specialized in creatures with paralyzing and petrifying abilities. The beastmaster fell victim to one of his own creatures, and the Shield of the Basilisk disappeared from living memory long time ago.
+1 to AC in addition to the usual +1 from medium shields. The total bonus of +2 to AC is only applicable to one enemy each round.
The Eye: Once per day the wielder of the Shield of the Basilisk can tap the shield and make the eye open. One humanoid target of medium or smaller size of the owners choosing that is directly in front of the eye will be affected as per the spell Hold Person (save, spell resistance and so forth as normal). The effect will remain as long as the eye is directed at the creature, i.e. the wielder can no longer use the shield for defense and the target must be in line of sight of the eye. The spell will be broken if anyone or something equal to or larger than the target interferes with the line of sight.
Vulnerable: The Shield of the Basilisk has become very frail over time and will no longer save as a magical item. Consequently it will be damaged by fire, and other actions that could destroy a normal wooden shield.