expression, noun
keepsake; memento; memorabilia
A tangible item kept because it evokes a memory of a person, place, or event. Often used in personal, sentimental contexts.
祖母からもらった指輪は、大切な思い出の品です。
The ring I received from my grandmother is a precious keepsake.
引っ越しのとき、子どもの頃の思い出の品をいくつか見つけた。
When moving, I found several mementos from my childhood.
記念品 is a more formal term for a commemorative item or souvenir, often given at events, whereas 思い出の品 is personal and emotionally charged.
Compound of 思い出 (memory, recollection) + の (possessive particle) + 品 (item, article). The phrase is transparent and follows standard Japanese compounding patterns.