Arcana are items in Dota 2 that are the highest in rarity. Their main advantage is a complete redesign of the character. They change the icons of abilities, their effects, often change the most frequently purchased items. The changes sometimes become so many that the character completely changes in one direction or another. They come out quite rarely, so I suggest to remember all the arcana that came out, sorting them by release date.
The arcana on Lina, was the first of its kind. It was released on the 7th of March 2013, and it still holds up. A lot of people dislike her for her appearance, but that doesn't change the fact that after time she still looks good. Changes portrait, animation, gives visual effects, and also changes the first ability. Sold at a price of around 2000 rubles.
Right after Lina, the arcana for Legion Commander was released. It appeared six months later, and became very popular. It wears in the arm slot, and changes the effect of arrows. It also changes portrait, icons, and ability effects like the last one. This arcana is freely available, and just like its counterparts costs about 2k rubles.
One of the best arcana according to many players. Released on 29 January 2014, and is a head skin. Has a unique mechanic that allows you to change colour by purchasing and placing your gems. The colour can change from something bright, to very dark. Although it came out a long time ago, is still one of the most beautiful. It also costs about 2k rubles.
A competitor for the arcana on Terrorblade. The arcana on Sfa, immediately after release became a favourite of most players, partly because Shadow fiend, is the second face of Dota 2. The look of the arcana is now very dated, but it's still the best skin on Sfa.
An arcana on PA, and another competitor for the title of best arcana. Its main draw is that it has several styles that change the appearance and visuals a lot. It also stacks well with many immortal items, so it is a great option to buy.