With an interview with Joseph Tung, he said some stuff about the new Elite Armor coming out with Reach. Down below you can see the armor.
Grunt Birthday Party – 100,000 credits
When killed with a headshot in multiplayer, your head will explode in confetti.
Hearts – 200,000 credits
When you die, hearts will appear around your body.
Pestilence – 1,000,000 credits
Your armor will radiate a dark cloud of insects.
Lightning – 2,000,000 credits
Your armor will constantly radiate electricity.