I wouldn't recommend it. It's possible to become soft banned for obtaining cheated items, even if you weren't the one who cheated them into the game. It happened to me on Xbox 360. "It has come to our attention that some players may be receiving items/weapons/equipment from players that are hacking/modding and that the items dropped could be modified/hacked versions of a weapon/item/equipment that could potentially cause the Dark Souls 2 server team to flag your account as violating the EULA (it turns out that the Dark Souls II server team is not placing restrictions/limitations due to such hacked/modded items, but will be monitoring any accounts found in possession of such items more closely for any other further violations of the EULA). Our recommendation would be to avoid picking up any items that other players drop for you unless you know/trust the person dropping them (or to remove any such items from your inventory, or simply deleting the character if you are unable to remove/discard them by normal means). Please note that as long as the weapon/item is not picked up and added to your inventory it will not be flagged by the Dark Souls 2 server team as a violation of the EULA (since you have not accepted the item into your character's inventory) and the item should disappear over time (or by reaching another playthrough). PS: Don't take candy from strangers..." - BANDAI NAMCO Games America Customer Support Team

I've actually seen a video where a guy set a trap on the bridge in the iron keep. He found a place to hide and sent a line of prism stones down the stairs to the side opposite the bonfire. He left some useless items dropped on the ground and when people tried to pick them up he shot them with a great bow into the lava lol. He used it as a good farming tool for dragon scales =p.