From Guild Wars 2 Wiki
Third-Place Medal is an ascended trinket. It appears to be a medal awarded during a pet show in Divinity's Reach. Chauncey von Snuffles III and Lady Wisteria Whiskington from the Shire of Beetletun are the only known entrants, Chauncey having placed second.“
Congratulations from the Divinity's Reach Fancy Cat Association! Everyone is fancy in their own way.
Unused Enrichment Slot
— In-game description