The Love Pill Bracelet is a special bracelet from Joketsuzoku that was stolen by Happosai during his time there. The bracelet contains three pills which will make a person fall in love with the first member of the opposite sex that they see. The three pills are "Minute Pill" ("Instant Pill" in the manga), "Day Pill", and "Lifetime Pill".
Happosai had forgotten about the bracelet, but was reminded by Cologne when she recognised it. This causes Happosai to try and make any beautiful woman swallow one of the pills so they fall in love with him, while Shampoo tries to use the pills on Ranma Saotome.
In the manga only two pills are used, the Instant Pill and the Lifetime Pill. Ranma swallowed the former and temporarily fell in love with Cologne. Akane Tendo supposedly swallowed the Day Pill, but it turned out to the be Lifetime Pill. However she coughed it up after being pushed into the sea by Ranma to prevent her from looking at Happosai. She then threw it away but it was swallowed by a small octopus which fell in love with Happosai. Shampoo later tries to get Ranma to swallow the Day Pill.
All three pills were used in the anime, with Ranma also swallowing the Minute Pill and falling in love with Cologne. Shampoo accidentally gave P-chan the Day Pill, which he spat out into the ocean, while the Lifetime Pill was swallowed by Akane, but eventually coughed out. It was swallowed by a giant octopus, which falls in love with Happosai.