Collars can be equipped to mounts in the Stable, just like insignias. The main difference is that you can only equip a collar of a quality equal or inferior to your mount: you can equip an Epic collar to a Mythic mount, but you cannot equip a Mythic collar to an Epic mount. Furthermore, there are 5 types of collars, and you can only equip one of each type on your mounts (you cannot equip both a Practical Barbed and a Practical Crescent collar). You can either buy Epic collars from the Zen Market (1000 Zen each), or loot them (quite rarely) in dungeons (leveling dungeons excluded).
Here are the stats for the Mythic quality (1000 item level):
Practical:
Practical Barbed: 10% Glory Gain, 500 combined ratings
Practical Crescent: 10% Gold Bonus, 500 combined ratings
Practical Regal: 10% Rough Astral Diamonds Bonus, 500 combined ratings
Sturdy:
Sturdy Barbed: 5% At-Will Powers damage bonus, 500 combined ratings
Sturdy Crescent: 5% Encounter Powers damage bonus, 500 combined ratings
Sturdy Regal: 5% Daily Powers damage bonus, 500 combined ratings
Supportive:
Supportive Barbed: 5% Control Bonus, 500 combined ratings
Supportive Crescent: 5% Stamina Gain, 500 combined ratings
Supportive Regal: 5% Outgoing Healing, 500 combined ratings
Unified:
Unified Barbed: 5% Control Resistance, 500 combined ratings
Unified Crescent: 5% Movement Speed, 500 combined ratings
Unified Regal: 5% Incoming Healing, 500 combined ratings
Wayfaring:
Wayfaring Barbed: 5% Critical Severity, 500 combined ratings
Wayfaring Crescent: 5% Recharge Speed, 500 combined ratings
Wayfaring Regal: 5% Ap Gain, 500 combined ratings
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