Monster Components

Monster components are a new treasure type, where basically characters can build items out of creature parts.
For game balance it is up to the DM to indicate what encounters can have their components harvested, and whether there needs to be a skill check or time requirement applied to the harvesting.
In general creature components can be used for the following:

• make items thematically related to creature subtype (alignment, element etc.)
• make items based on creatures spell-like abilities
• make items based on a creatures bonus on skills or abilities
• make items based on high bonus for AC or attributes (16+)

The full value of the component can be used towards making said item.  If it isn't quite enough to make the item, the character must pay the difference.  No feat is needed as long as the character can find a craftsman to make the item.
The item cannot have a level higher than the characters level.
In the alternative monster components can be converted into gold for half their value.