I'm pretty sure I read somewhere that the system in FF XIV will be akin to WoW's transmogrification. In this other MMORPG, transmogrification is the ability to give any item you own the appearance of another item of the same kind (same slot, same type), notwithstanding certain limitations (such as the items being both in your possession, both equipable by your character/class, and of "uncommon" or better quality).