Hero Shield

The Hero Shield is a Hardmode post-Plantera accessory that combines the effects of the Paladin's Shield and the Flesh Knuckles.

Tips
in combination with Beetle armor, it is a great way to help out players on your team with low HP on Multiplayer.

Trivia
The item could be a reference to HERO, a Terraria youtuber who has made many videos showcasing items in Terraria.