Eliminate the indicated player when they use collateral instead of money to buy into a hand. When you eliminate the player you will receive the item for use in Team Fortress 2. The items will appear in your inventory in both 'Poker Night at the Inventory' and 'Team Fortress 2'.
Unlock Dangeresque, too?: Eliminate Strongbad.
Unlock The Enthusiast's Timepiece: Eliminate Tycho.
Unlock The Iron Curtain: Eliminate The Heavy.
Unlock The Lugermorph and The Liscence to Maim: Eliminate Max.