While I was pickpocketing with my Rogue in Hyjal (yes, I frequent Hyjal quite a bit), I found a few new items. Now this was a few weeks ago, but I have been making this a regular rotation for him since I saw what is dropping. Here's the location that I have been hitting (Now if you are not a Rogue, keep reading as you are going to want to add an item to your Snatch list in the AH):
Polished Bronze Rivet for this High Society Top Hat, and you know everyone with the gold are going to want this for their banker (that means you, and basically anyone that decks out their bank alts)....
The mobs you will be pickpocketing here are the Twilight Scorchlords. They are easy to spot, they have a Flamewalker next to them, adn there is a little town that you go through in the area that has the NPC's killing them if they get to close. (FYI- you can still pick their pockets if they are in combat with them, or another character).
Here's what the Scorchlords look like:
Now, if you just want to run around and pickpockets and not kill any mobs (which I recommend if you are ONLY going there for the drops, as their spawn times are not the greatest....i.e. the more pockets picked, the better the drops for you), you can start at the far West side of the "town" and go through to the East side. After picking everyone on either side of the "road", and you get to the end (there will be two buildings on the left side), mount up, and fly back to the West to your starting point, the mobs will have new items in their pockets (respawned). Back to the killing part....I have noticed that if you smoke the mobs after picking thier pockets, you have a two to three minute wait for respawns, and if you are only here for an hour, thats about a third of the time waiting. You decide which you prefer.
Now there are other locations for picking these, Twilight, Uldum, etc, but your best bang for the buck will be here. I have tried the other areas, with little to no difference in droprates, mainly due to the respawn issues and wait times to "refresh". And in my opinion, this is the spot for farming.
For those that do not have a rogue (or access to one), or just hate to farm, I would reccommend putting a Snatch on the Polished Bronze Rivet (server dependant price, but I am snatching at 100g currently, and only seen one on the AH since Cata, as I imagine alot of rogues are just vendoring and are not aware of it's worth).
Now, to watch the Bears destroy the Seahawks.