Wings

Wings are Hardmode Accessories that allow the player to fly temporarily by pressing and holding the jump key. Equipping Wings replaces jumps entirely with flight, rather than requiring a double-jump to activate. The flight time can be renewed once the player stands on a regular block. Wings also allow the player to glide down rather than fall, by continuing to hold the jump key after flight time has been exhausted. Glides can be sped up by holding the down key in addition. The player is immune to fall damage when Wings are equipped, whether or not the player has glided down, making the Lucky Horseshoe obsolete.

Wings flight time vary by type. Of the 1.2 wing types: Bee, Butterfly and Fairy provide the least time; Harpy, Bone, and Bat slightly more while Frozen, Flame, Ghost and Leaf Wings allow even higher flight.

The Halloween event adds two new varieties of wings, Tattered Fairy Wings and Spooky Wings, both of which are superior to Flame, Frozen and Ghost Wings. The console version of Terraria has its own set of exclusive wings called the Sparkly Wings, which are sold by the Dryad.

The Hoverboard also is counted in-game as though it were a set of wings. (The effects of wings and hoverboards do not stack, and only the "lowest slot" accessory counts.) The hoverboard does not ascend as quickly as wings, but allows for faster horizontal travel when "hovering". The Hoverboard also has the 3rd longest vertical flight distance of Wings.

Flight is much more controlled with Wings than with Rocket Boots or Spectre Boots alone, and allow for much greater flight range. Wings also work while under Water. They are always visible on your character, unless you are using a weapon that adds something onto your back like the Leaf Blower, or while wearing Turtle Scale Mail, but fold into a low-profile image when not in midair.

Equipping multiple wings will not stack the flight ability. Only the lowest pair in the list will function.

The player is able to fly for exactly five seconds every time they press the jump key and hold it. Gliding, however, has no limit. The player is able to fly more than 300 feet in a continous run unless they are obstructed by a block. Torches, Wood Platforms are able to be bypassed in flight; platforms only through the bottom. Most non-solid blocks are able to be bypassed.

Flight Range
All other jump-boosting Accessories stack with Wings to increase flight range:

Detailed Info
Vertical Flight confirmed as of Terraria version 1.2.3.

Flight Time, Air Speed, and Boosted air speed based on previous page content.

Tips

 * An Ice Rod can be used to lay blocks of ice to land in mid air, allowing you to stay in the air almost indefinitely, provided you have enough mana.
 * Using Feather Fall Potion can also increase the duration of flight greatly, as the slow fall effect of the potion stacks with the wings, allowing very long glide.
 * Similarly, holding an Umbrella will stack its slow fall effect with the wings.
 * Use of Climbing Claws or any form of hook in conjunction with the wings can allow a flight-time reset when the wearer attaches to a block.
 * The Cloud in a Balloon or any accessory with a double jump ability has a unique effect on Wings: They make your first flight very short (roughly half a second), requiring a double-jump for any real flight time. However, once you have double-jumped, flight is significantly faster than usual, and a smoke effect is added (not illuminated), similar to using the Spectre Boots alone (the smoke effect does not appear if both the Cloud in a Balloon and the Spectre Boots are equipped). The double-jump also causes the usual Cloud effect.
 * Equipping the Cloud in a Balloon but not using it, in conjunction with the hoverboard will allow you to hover (but not fly) forever.

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