The Bumbluz is a Petpetpet (a pet for your petpet) available for around 130,000 NP for the Trading Post or Auctions .
If you see some blue on your Petpet and it is always scratching you might check for this bug.
The only item associated with this Petpetpet is the "Lemon Bumbluz Lolly". If you are lucky enough to buy this item directly from the Chocolate Factory you will receive the Chocolate! Avatar.