The EQ Pad is a high performance bass drum damper pad that attaches with Velcro to the shell of the bass drum, usually the pad hits the head, but not always mute, the pad will fall off the head only when you hit the bass drum, so you can mute without losing the attack sound and volume.
Also, the new version of the EQ pad has a smaller pad on the end to allow for use with smaller drums or minimal damping.
Reference price is the manufacturers estimated price at the time of the product release