The Iron Banner is a limited-time event in Destiny 2 that features a special Crucible playlist and offers unique rewards for players who enjoy competitive multiplayer gameplay. It occurs periodically throughout the year and is announced in advance in the game's news and in-game notifications.

During the Iron Banner event, players can participate in special Crucible matches to earn Iron Banner Engrams, which can be used to purchase exclusive gear from the event's vendor, Lord Saladin (Located in the Tower). The gear offered by Lord Saladin is typically more powerful than regular Crucible gear and is highly sought after by players.

The Iron Banner event also features many weekly and situational challenges (such as using certain sub-classes) which increases the reward for completing matches. This makes the event a good opportunity for players to earn powerful gear and improve their character's power level.

To participate in the Iron Banner event, players simply need to queue up for Iron Banner Crucible matches during the event period. They will earn Iron Banner Engrams by completing matching and leveling up with the event and can use those Engrams to purchase gear from Lord Saladin.

Overall, the Iron Banner event is a great opportunity for players who enjoy competitive multiplayer gameplay to earn unique rewards and test their skills against other players. Keep an eye out for the next Iron Banner event and get ready to compete for the best gear in Destiny 2.