Obsidian Shield

The Obsidian Shield is a new accessory item from 1.1 update. It is made from the Cobalt Shield and Obsidian Skull, and combines their functionality as well as their defense. It will prevent you from being knocked back and stop you from being burnt by Hellstone and Meteorite.

Obsidian Shields have the highest defense for an accessory slot making this useful for tough boss fights.