Paper doll

In other words: any equipment player can wear shows in-game outside of inventory.

Not when this is limited to held weapon or similar small thing.

Best examples are games where every single piece of equipment is visible as unique item outside of inventory screen when worn. Most games omit jewelry from this however.

Games where the outside of inventory appearance is dependant solely on equipment level rather than what they look like should not be included (somewhat common in MMOs).