Brief excerpts from the Catalog of Luminiferous Assemblages and Paraphernalia (GB) (I)

When lit it gives a lot light but it also gives off a ton of cold

Flares into pure sunlight in the presence of undead

Emits no heat for infravision

Levitates alongside owner like Tenser's Floating Disc, freeing up hands

Cannot be extinguished without the command word, even in water/void

Degree of light alters in the presence of X

Produces light with no fuel, but constantly complains about it in a tinny voice.

1d4 small flame sprites that can be released scout ahead in the dungeon for X amount of feet; however you cannot stop them from setting the odd object alight along the way.

Floats on command up to 80 feet

Burns for three hours without oil, but smells like rotten eggs and makes a loud BRAAAAAP when lit, which has a chance of alerting anything in earshot.

Reveals illusions

Gives off holy elven moonlight, +1 to turn undead

Shoots low-damage rays of fire at will if fueled with extra oil

Light is sometimes invisible to monsters (better surprise chance)

Flame is a tiny, friendly little elemental that can talk to other flames

Just straight-up indestructible, that's it

Functions as normal lantern, can be activated to produce infralight bright flash to blind such creatures who can see it for a number of rounds equal to hours of fuel left.

Cursed item: When held, the owner can no longer put it down. The open flame lights up as brightly and vigorously indicative to how long of a life span the owner has. If the flame is manipulated to go out, the owner dies.

Lantern of illusionary light. Instead of making actual light, it casts an illusion of a well-lit area

Cowardly Floating lantern. Floats near user, follows simple commands, but flees at the first sign of combat.

Projects pictures onto the wall

Repels or attracts--lantern holder's choice--will-o'-wisps and other fire- and light-like sprites, which must make a saving throw to approach or resist.

~ZOZ