For Love is in the Air, you’ll want to collect Lovely Charms
Which become Lovely Charm Bracelets for your favorite faction leader(s).
As it stands now, you can only collect one type of trophy at a time. If you are on the Test Your Strength quest, collecting ugly ears will take precedent over Lovely Charms.
If you want to make sure you can finish the daily quests for Love is in the Air, and get your Trophies done for the Faire, make sure that you finish up all your trophies in one fell swoop so you can start collecting charms!
You cannot get trophies and charms from the same mob. However, if you do not apply the killing blow (i.e. you’re in a group) you may still receive charms.