You can equip one pet on 2 characters in arena 2v2. To do that here is an example:
Equip the pet you want on your hireling and do one match in the arena. Now equip the pet from hireling on your main and do a 1v1 arena match again. Now you have 2 characters on arena with the same pet on a 2v2 fight. Bug or not, that may be not intended
Also, this apply to every item not only to pet when I thought about it more. So you can have one good trophy that 2 characters could use or even the whole set of items.