From GuildWiki
[edit] Description
The Candy Cane Bow was introduced with the Wintersday 2005 update. It could be obtained from Candysmiths for four Candy Cane Shards. In Wintersday 2006 the price was changed to nine Candy Cane Shards. It has no requirements and does exactly 15 damage, although your Marksmanship and the target's armor will influence actual damage dealt. It has the same characteristics (refire speed, flight time and range) as a Longbow. Because it has no Marksmanship requirement, it is the best bow for warriors or other non-rangers who wish to pull.
[edit] Weapon Stats
Bow
The bow cannot be salvaged, upgraded or dyed at all.