I went to UC Santa Barbara, so I've spent quite a bit of time in the area. If there's a place with more perfect climate, I don't think it is on Earth.
Honestly, I would say that most of Santa Barbara is safe, and you have very little to worry about. There are a lot of police around due to the Students at the UC, and for the most part, there are few problems.
Parts of IV (Isla Vista - in Goleta, by the school) can be a bit iffy, and a few areas downtown aren't as nice, but the rest of SB is super nice. Even the iffy areas are nicer than 90% of Los Angeles. As long as she keeps her wits about her, she'll be fine.
Forget fixed blades, guns, or batons. Folders are basically ok, but as with all things, keep it within reason. I don't believe there is a length limit by State or County law, but you might want to look up the codes online. There is a limit on OC can size, I believe it is 2 or 2.5 oz's. She could pick up some in town.
As for other information... The beach is nice. The beach by the school is very beautiful, especially the point, but has some tar in the sand. If she wants to visit the beach by the UC, have her take some baby oil to help get the tar off her feet (don't wear nice shoes on the beach). The beach by downtown is basically clear of tar. The water is probably a bit cold for swimming right now.
I would also recommend a good rain coat and umbrella, as it is an El Nino year, and it will probably rain pretty good at least once while she's there.
In downtown is State Street, which is a lot of fun. Its sort of a touristy/shopping street that runs for around a mile or so. Lots of shopping, restaurants, coffee places and some excellent bars as well. Right by the end of State Street is the Pier, which is nice (if it hasn't burned down again

)
If she has time, there are some boat tours of the islands that are fun. I believe that this time of year, there are some whale watching boats around too.
The mountains are very close. There's some good hiking and camping within a short drive, as well as some amazing views of the ocean and city.
Santa Barbara is a very nice place. She should have a great time.
-- Rob