The fun part is that they have a lot of neat clothes, like pink dresses and black pantsuits. You need 5 coins per outfit, and you can get all of the clothing colors if you have enough coins. For example, I had my priest get both the pink and purple dresses, and together they were 10 coins.
Where do you get the coins? From daddy, of course. Daddy being over 70 "elders" spread across the world. Each elder gives you one coin, making me think of teenage girls asking dad for money to go shopping.
It is definitely beneficial to have traveled a good deal prior to this, otherwise you'll be walking everywhere.
Yes, you can get coins from elders without doing anything else Lunar Festival-ish. When you get the coins, take them to a giant moon portal thing (I've seen one in Darnassus and one in Stormwind) and do the very easy quest (shooting off fireworks) to get the invitation to Moonglade. Then click it while standing in the giant moonbeam and run north-ish to town. The guy you want is in the northeast corner of town, on the docks. I included a picture of him.
Men and women can wear both types of clothing, but they are soulbound, so you can't pick some up for a friend.
Tip: Ctrl-Click on the outfits to preview how they'd look on your character.
List of My Favorite Elders
A list of the alliance elders I found it easiest to get to. They're in low-ish level areas -- I ran my level 27 through for 10 coins without once being bothered, and Birdfall at lvl 18 got 5 coins with no problem at all. Here's a map site to help you with horde/alliance territories and travel paths. Here's a comprehensive list of elders.
How to get easy flight paths to major cities: High-level mages can teleport anyone to any major city. Consider asking someone you know (or paying someone you don't) to help you get all of the flight paths. It's a little too much to ask a stranger to do for free.
- Stormwind - Park
- Goldshire (Elwynn Forest) - Behind blacksmith.
- Sentinel Hill (Westfall) - Atop Sentinel Hill tower.
- Ironforge - Mystic Ward
- Kharanos (Dun Morogh) - By the inn.
- Thelsamar (Loch Modan) - This is a long run, but there's a flight path at the end.
Night Elf Area
- Darnassus (Teldrassil) - Cenarion Enclave.
- Dolanaar (Teldrassil) - Southern end.
- Auberdine (Darkshore) - East of Hippogryph Master.
- Astranaar (Ashenvale) - Gazebo near Hyppogriph Master.
- Ratchet (The Barrens) - Behind the bank.
- Booty Bay (Stranglethorn Vale) - Above the bank.
Once you get to Ratchet (check the map site I gave you to see where it is), get the flight path and jump on the boat to Booty Bay. Get that flight path and then fly or hearth home. You should have over 10 coins by now.
Have fun shopping!