The two-foot long intricate design depicts a Welsh dragon which symbolises protection, interwoven links for togetherness, a harp for passion and the nation's love of song, the daffodil as the national flower and the Prince of Wales feathers for national pride.
"Welsh Lovespoons are unique to Wales," said 'The Welsh Lovespoon' gallery owner Patricia Price, who has provided the carving.
"The oldest recorded Lovespoon was found in 1667 and the one the Wales team have was hand-carved in the traditional manner by local artist Richard Downes.
"The carvings are traditionally done by men and, although they were sometimes given to women as love tokens, the main purpose is to represent the heart and soul of Wales. The Lovespoon will remind the team that the nation is with them at all times."
The idea to begin a new tradition was generated from within the squad and management team and Welsh Lovespoons where the obvious choice for an emblem.
"The team have been treated to a presentation from The Lovespoon Gallery and it was fascinating to learn the true history of the art and of what the carvings stand for," said Wales team manager Alan Phillips.
"This will now become a symbol which we take away on every tour and is something to identify the Wales rugby sides of the future with when they are overseas."
Wales' answer to the South Africa's springbok trophy and the British Lions' cuddly Lion will be the responsibility of the youngest member of the squad and will be worn on a sash around the player's chest at all formal functions
The youngest member of the squad travelling to the Rugby World Cup is 20-year-old Ospreys hooker Huw Bennett.
"I will wear the Welsh Lovespoon with pride wherever we go and it is a great honour to be asked to carry something which depicts our national culture," said Bennett.
"I'll be reading up on more of the history of the Welsh Lovespoons so I will be able to explain about the symbolism and what the pieces of art stand for."
The Welsh Lovespoon is intended to become an identifying mark of Wales squads on tour and will remind players of the values and pride of the nation.
"We would like this now to become an ongoing tradition within all Welsh teams. Teams like New Zealand with the Haka and the British Lions have their own identifying features and now we will have something to promote Welsh culture both within and outside the squad whenever we travel," added Phillips.
Bennett's name will be engraved on the back of the spoon which has been provided by 'The Lovespoon Gallery', based in Mumbles, Swansea.