From EverQuest2.com:

EverQuest™ II players are some of the most dedicated, emotionally invested players in any virtual world. For the first time, EverQuest II players have the opportunity to create parts of our world by designing new in-game items.

Player Studio™ is a new program that invites (initially US-based) players to download sample geometry, learn how virtual items are constructed, and try designing items. You can try your hand at writing a creative name, item description, and rationale for how it fits into the ongoing storyline.

Selected items will be offered for sale in the SOE Marketplace alongside items created by staff artists, priced in SOE’s Station Cash virtual currency. Revenue from the sale of these items will be shared back with the creative player.

The program is not yet officially running, but you can read up and even start creating items now. More information will be released at SOE Live 2012 in Las Vegas, NV.