There are 6 different rarities of equipment items in Last Epoch. Rarity is determined by what stats an item has and can be changed by crafting.

Common (white): The item does not have any affixes.

Magic (blue): The item has either 1 or 2 affixes which can be prefixes, suffixes, or both.

Rare (yellow): The item has either 3 or 4 affixes up to 2 prefixes and 2 suffixes.

Unique (orange): The item has stats and effects that cannot be found on lower rarity items. Uniques cannot be crafted on.

Set (green): Set items are uniques that also grant bonuses for having other parts of the same set equipped. Sets will typically have 2 to 4 pieces.

Exalted (purple): Exalted items have one or more tier 6 or tier 7 affixes.

Tier 6 and 7 affixes cannot be created through crafting but crafting otherwise works the same for Exalted item as it does for Magic and Rare items.

Legendary (red): Legendary items are created in the Eternity Cache and are a combination of a Unique item and an Exalted item.