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See: Bedlam and Ikonn.
The Ivory Idol of Ikonn was created because of a wager that took place one thousand years ago by the Octessence, eight mighty beings. They each put their power into an item and decided that the first mortal to come into physical contact with each being's respective item would become an Exemplar, possessing the power of the being who created the item they interacted with.
One Exemplar was Olisa Kabaki, the one who activated the Ivory Idol's power. She worked with the other Exemplars to fight against Juggernaut who had betrayed the will of the Octessence. But thanks to Captain America, she was freed of Ikonn's influence, the Idol continued to give her its power and so she used this to drive the demonic influences out of her fellow Exemplars.
Its current whereabouts are unknown.
It gave Olisa telepathic and mind control abilties.