Borderlands has several Legendary items. A legendary weapon is a weapon with a red text effect, usually with a yellow, orange or dark orange coloration. Unlike Unique items, Legendary items can spawn at any time, and be acquired anywhere. Legendary items don't have any restrictions on their parts, provided generic rules are respected.
Each manufacturer has one (and usually exactly one) Legendary weapon for each weapon type it manufactures.
Orange weapons with inherent elemental properties are especially strong because they provide the elemental effects with no loss of damage rating (or sometimes even an increase), unlike normal elemental accessory parts that reduce damage by up to 40% in exchange for elemental properties. This, however, only applies to orange weapons that inherently possess specific element like the Atlas Ogre or Maliwan Hellfire. Orange weapons that do not inherently come in a specific element can occasionally be randomly generated with various elemental accessories, but these will result in a reduced base damage rating, as normal.
In Borderlands 2, Legendary items are more like Borderlands' Pearlescent items. Each Borderlands 2 Legendary has a unique material pattern and some have more than one predefined part.
Pearlescent items are a cross between unique items and super-legendary items. Please see the Pearlescent article for more information.
List of Legendary Items (Borderlands)
There is one (and exactly one) Legendary weapon per valid manufacturer-weapon type pair. You can sort this table to view it either by manufacturers or by weapon types (or by model).
↑ 1.01.1The three so-called pearlescent weapons prior to Patch 1.3.0. They had no other special characteristics compared to other Legendaries.
↑The Penetrator is differently coded, and appears as Green, Blue, or Purple rarity instead of Yellow, Orange, or Dark Orange.
↑Judging from part names, the Hyperion Invader is supposed to be the Hyperion Executioner.
↑Judging from part names, the Maliwan Crux is supposed to be the Maliwan Plague.
↑The name "Draco" cannot be obtained in-game, but only by save editing. The effect can be observed, but the name will not be present on a legitimate weapon. Because of this, the Draco will always appears as Green, Blue, or Purple rarity instead of Yellow, Orange, or Dark Orange.
↑Technically, Friendly is a prefix that appears only and always on the Torgue Fire.