Question about selling fan-made lol stuff

Yo, a friend and I are planning on making and selling league charms based on the characters from the game. I have read the Jibber Jabber about it and read that you have to request permission in order to sell hand-made league products. Of course I have seen many people selling this stuff at conventions, Etsy, and everywhere else, but it makes me wonder how many of these sellers got approval from Riot to sell and if they didn't, is it illegal for them to be selling their products?. I would also like to know if any of you got approved to sell and what would be the chances of getting such approval (reading that the default answer is "No"). I do not want to infringe upon Riot's IP and wouldn't want be doing anything illegal. Thanks in advance for any answers! :D