If this weapon is dropped, it cannot be picked up and put back into the inventory. Also, when dropped, the name won't be labeled. This is due to the weapon being flagged as "unplayable" in the G.E.C.K.
In the quest For Auld Lang Syne, when giving the Courier's equipment back, Arcade might accidentally give his ripper to you. At that point he only attacks with his Plasma Defender, if necessary. [verified]