The frozen abyssal whip is an abyssal whip with a frozen whip mix added onto it. The whip mix gives no additional bonuses, and is only used to add aesthetics to the whip. It costs 1,972,603 for both the parts to make the frozen abyssal whip.
While the whip is untradeable in its frozen state, it can be reverted to the tradeable abyssal whip by using a cleaning cloth on it. However, the frozen whip mix will not be returned.
Note: Despite being untradeable, if the frozen abyssal whip is not one of your protected items upon dying to another player in the Wilderness, it will be lost upon death.
Even below level 20 Wilderness, the whip will lose its paint and drop to the ground for the person who killed you.
^The cost may be higher because of the variant of the item used. The base item is abyssal whip.
Trivia
The inventory sprite and the actual appearance of the frozen abyssal whip differ; when it is equipped the "links" appear to be black, whereas the inventory sprite appears to be entirely blue, with only slightly differing shades.