Ok first off I would like to say the item is unobtainable but you can find a skeleton wearing it.

Ok so iv just been exploring the forgotten vale collecting the paragons, iv just started walking over the bridge to the temple propper, I looked left from the bridge if you were looking at the temple and there seemed to be what could be a portal (turned out it wasn't a portal) I looked around the site for any hidden goodies and saw a skeleton half buried in the snow.

This skeleton has what seems to be a simple silver band around his head, you can't pick it up but you can damn well look at it and draw some theories from it.

If this has already been mentioned then sorry.

This has been mentioned in other threads before and there is even a video in youtube about it

Thats not the real Snow elf Crown.
There is a Real, unused one.
Unobtainable.
That one is just a Soul gem 'holder'