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Hilt of the Silver Wolf was a Legendary Crafting Material in Diablo III. It requires a Character Level of 1 to use, is account bound, and may be stacked up to 1000 times. It was required for the crafting of the Golden Scourge legendary flail. As of patch 2.0.6., it no longer drops, and existing Hilts may be sold for 50,000 Gold.
The item only dropped from unique Fallen Hounds:
When Cornelius took the throne, he sought to distance himself from the insurgents by adopting the sign of the bear—even tasking the royal armorer with melting down the hilt of his sword. The armorer, however, replaced the wolf’s head hilt with a bear head of inferior materials. Unfortunately for him, he was overtaken by fallen hounds when en route to sell the original.