A solo boss fight against Pink Zakum. Take down its arms, then finish off the core body before time runs out - just you against the boss in your own private instance.
Pink Zakum is not part of the event rotation - you can challenge it any time. Each character gets one entry per reset, and entries reset twice a day at 00:00 and 12:00 (server time). You have 15 minutes to win.
Use @joinevent or talk to the Event NPC in Free Market and choose Pink Zakum. You're sent straight into your own private fight. Destroy the arms, then defeat the core body within the time limit to win.
Defeating Pink Zakum awards 1 Pink Zakum Coupon. Spend your coupons at Lil Zakum - open the shop with @pzakshop or simply double-click a coupon.
Lil Zakum sells the Pink Zakum Helmet and Pink Zakum Arms in four tiers:
Already own a piece? You can upgrade it straight to the next tier by paying only the difference. Each character can hold one Helmet and one Arms at a time.