Chum Bucket

The Chum Bucket is a consumable which increases fishing power when thrown into a liquid. It is dropped with a from Blood Moon enemies: the Wandering Eye Fish and Zombie Merman drop it in stacks of 4–6, and the Hemogoblin Shark, Blood Eel, and Dreadnautilus in stacks of 7–10.

Trivia

 * The Plankton part is a Spongebob Reference. Plankton, the main antagonist of the series, owns a Bucket-Shaped restaurant eponymous to this item. Additionally, he also sells exclusively chum from there.
 * Chum buckets in real life are used by fishermen to lure sharks.