If it helps, you can start Ep.3 without needing to worry about the smiley face (called a Suffer; it's an easter egg item and not actually of use in the game) or any other extra items. The game will always start you off each episode with the necessary items you'll need. For example, if you kept the gold lock in Ep. 2, Graham will automatically get rid of it at the beginning of Ep. 3 whether you keep it from Ep. 2 or start Ep. 3 from the main menu. The gold lock is unnecessary after Ep. 2.