This is a step in a long chain quest ending in appropriate quest rewards of a melee or caster ring. Below is the full chain:

The Lost Report - https://vanillawowdb.com/?quest=1238 https://vanillawowdb.com/?quest=1238
The Severed Head - https://vanillawowdb.com/?quest=1239 https://vanillawowdb.com/?quest=1239
The Troll Witchdoctor - https://vanillawowdb.com/?quest=1240 https://vanillawowdb.com/?quest=1240
Marg Speaks - https://vanillawowdb.com/?quest=1261 https://vanillawowdb.com/?quest=1261
Report to Zor - https://vanillawowdb.com/?quest=1262 https://vanillawowdb.com/?quest=1262
Service to the Horde - https://vanillawowdb.com/?quest=7541 https://vanillawowdb.com/?quest=7541

Kreghx says:

Starts with:

The Lost Report
- Dig at the ""Loose Dirt"" at Swamplight Manor, Swamp Eye Jarl's current residence.
- Receive ""Spy's Report"".
- Return it to Nazeer Bloodpike in Brackenwall Village.
- Nazeer Bloodpike mentions concern over a certain spy but says nothing more.
= Experience and Faction with Orgrimmar.

The Severed Head
- Return to the ""Loose Dirt"" and dig some more.
- Receive ""Defiant Orc Head"".
- Return it to Nazeer Bloodpike.
= Experience and Faction with Orgimmar.

The Troll Witchdoctor
- Speak with Nazeer Bloodpike again.
- Take the ""Defiant Orc Head"" to Kin`weelay in Grom`Gol Base Camp (Stranglethorn Vale).
- Kin`weelay takes the head and puts it in his 'bubbling cauldron' right next to him.
- Kin`weelay tells you to speak to the head in the cauldron.
= Experience and Faction with Dark Spear Trolls.

Marg Speaks
- Consult the head in the 'bubbling cauldron'.
- Marg wants you to kill Muckshells to get back a pendant that he stole from a human.
- Take the pendant to Nazeer Bloodpike.
= Experience and Faction with Orgrimmar.

Report to Zor
- Nazeer Bloodpike wants you to take the pendant to Zor Lonetree in Orgrimmar.
- Give the pendant to Zor Lonetree, located just inside Thrall's Fortress.
= Experience and Faction with Orgrimmar.

Service to the Horde
- Speak with Zor Lonetree again.
- As thanks, choose between two ring rewards.
= Ring, Experience, 1 gold 10 silver, and Faction with Orgrimmar.

It's possible that the pendant belongs to Varian Wrynn, King of Stormwind.

People who like to explore are going to get well-rewarded when they find the start of this chain.

Oddly enough, in one PTR patch this quest was bugged and subsequently got pushed to live realms. One of the rewards for the quest was accidently https://vanillawowdb.com/?item=19016 https://vanillawowdb.com/?item=19016 - this was long before anyone else had done the actual thing. The Vessel of Rebirth was used to summon Thunderaan and obtain https://vanillawowdb.com/?item=19019 https://vanillawowdb.com/?item=19019.