Thief stealing ability

[MunchkinMan]

Regardless of one's understanding of D&D, the card itself says you may try to steal a small Item carried by another player. The rules explain that cards in play are carried, whether they are being used or not, so between the the rules and the card, we have a statement that it doesn't matter whether the player is using it or not, wearing it or not, the Thief can steal it so long as it isn't Big.