The Fallichen is one of the many harvestables that can be found in the Frontier. They are usually seen by itself but can be found in patches in several locations of the Frontier such as:
The Fallichen is a bundle of lichen possessing the colors of autumn, similar to the colors used to depict decaying leaves during the season of autumn, also known as fall in other countries.
Currently, the Fallichen cannot be used in any shapes or forms in the game, Fantastic Frontier. It is simply sold to a selling vendor at a selling price of 375 gold.