Jester's Arrow

Jester's Arrows are the third strongest variety of arrows. They are similar to the Unholy Arrow, but can pierce through any amount of enemies within its maximum range. These arrows may only be found in chests in the Underground and Cavern layers or within the Dungeon.

Jester's Arrows will create sparks while flying. After hitting a block or traveling a certain distance, they will explode in a firework effect. This explosion does not cause damage to monsters or blocks. Like other weapons that emit light, they can also be used to check for caves, however, due to the rarity of the arrows, this is not recommended.

The only arrows that are stronger than Jester's Arrows are the Hellfire Arrows and as of the 1.1 update Cursed Arrows

History
Flèche du bouffon Jester's Arrow Стрелы Джестера