Excalibur

'Excalibur' is a sword that could be added in the 1.1 update. It seems to be white and gold in colour, and may emit a particle effect. It's features resemble the Pwnhammer, so they are likely to be crafted from the same material (if either item is craftable.)

The name 'Excalibur' has not been confirmed, but is shown in a 1.1 preview video.