Statues

Since 1.1, every new world contains 43 statues (41 new ones), scattered underground in every biome. These statues will represent a weapon, tool, NPC, or figure. Currently 12 of these statues may be used to spawn items: Bat, Bird, Bomb, Bunny, Chest (Mimic), Crab, Fish, Heart, Jellyfish, Piranha, Skeleton, Slime, and Star. Additionally the King and Queen statues can be used to teleport NPCs based on gender.

One trick is to take a wrench, place wires around it, connect it to a pressure pad, switch or lever, and press whichever was used (Pressure Pad, Switch or Lever). Connecting it to a timer will cause it to continuously spawn the item.

For example, if it is a bomb statue, the statue will spawn a bomb (Item version, not activated). If it is a king statue/queen statue, the statue will teleport NPCs to you (depending on the NPCs gender) if they may be lost. This is a great way to recover the goblin tinkerer, the wizard, and the mechanic from dangerous areas.

No current use (Only decorative)

 * Angel Statue
 * Anvil Statue
 * Armor Statue
 * Axe Statue
 * Boomerang Statue
 * Boot Statue
 * Bow Statue
 * Corrupt Statue
 * Cross Statue
 * Gargoyle Statue
 * Gloom Statue
 * Goblin Statue
 * Hammer Statue
 * Hornet Statue
 * Imp Statue
 * Pickaxe Statue
 * Pillar Statue
 * Pot Statue
 * Potion Statue
 * Reaper Statue
 * Shield Statue
 * Spear Statue
 * Sunflower Statue
 * Sword Statue
 * Woman Statue

Monster Spawning Statues

 * Bat Statue - Summons up to three* Bats.
 * Bird Statue - Summons up to four* Birds that fly away depending if the player is east or west of the Bird.
 * Bunny Statue - Summons up to three* Bunnies.
 * NOTE: If you activate the bunny statue while there is a blood moon, it will spawn Corrupt Bunnies. Which drops coins as they normally would.
 * Chest Statue - Summons up to three* Mimics, (The type depends on the depth the statue is at). Summoned Mimics will not drop anything except for occasional small hearts or small mana stars.
 * Crab Statue - Summons up to three* Crabs.
 * Fish Statue - Summons up to three* Goldfish.
 * NOTE: If you activate the fish statue while there is a blood moon, it will spawn Corrupt Goldfish.
 * Jellyfish Statue - Summons up to three* Blue Jellyfish. Summoned Blue Jellyfish drop Glowstick on death
 * Skeleton Statue - Summons up to three* Skeletons. Summoned Skeletons drop hooks on death.
 * Slime Statue - Summons up to three* Blue Slimes. Summoned Slimes drop Gel on death.
 * Piranha Statue - Summons up to three* Piranha. Summoned Piranha can drop hooks or a robot hat on death.

Other Uses

 * Bomb Statue - Summons one bomb. There is a delay of ≈10 seconds until it can summon a bomb again. Up to three bombs can be spawned at a time, though.
 * Eyeball Statue - Increases spawn rate of Demon Eyes. (Only works at night)
 * Heart Statue - Summons one Small heart. Due to the ten second spawn timer, a large number of heart statues are necessary to be effective. The statue also will not spawn a heart if there are 10 or more hearts anywhere in the world, 6 or more hearts within 100 blocks (800 pixels), or 3 or more hearts within 36 blocks (300 pixels).
 * King Statue - Teleports male NPCs to the King Statue's current location.
 * Mushroom Statue - Increases growing rate of mushrooms. (Also increases the overall height of mushrooms? Needs verification.)
 * Queen Statue - Teleports female NPCs to the Queen Statue's current location.
 * Star Statue - Summons a blue star, which will regenerate 100 mana points. The statue will not spawn a star if there are 10 or more stars anywhere in the world, 6 or more stars within 100 blocks (800 pixels), or 3 or more stars within 36 blocks (300 pixels). This statue also suffers the 10-second spawn timer.
 * Tree Statue - Increases growing rate of trees. (Also increases the overall height of trees? Needs verification.)

Tips

 * If you're hunting for statues one of the best ways to find them is to create a new world and look for nearby natural caves. If they're deep enough they could easily lead you to several statues, most often found in 'abandoned houses' and sometimes in glowing mushroom caverns.
 * When powering multiple statues with the same effect that are in close proximity to each other, e.g. 2 Bomb Statues, they will be limited to producing 3 items altogether. So at first they will produce 2 bombs at the same time then if you dont pick them up the next time only 1 bomb will be produced, then after that no more bombs will be created until the first 3 are picked up.
 * The goldfish statue can be surprisingly profitable. If you hook it up to a 1 second timer it will automatically produce a goldfish every second. You can then set up a trap that will automatically kill the goldfish as they are created. Shallow lava works well just be careful setting it up because if you break your statue it could fall in the lava and be destroyed. Dart traps could also work although they have a 3 second delay, but since it can pierce through all 3 goldfish in one shot you may be able to time it perfectly. Goldfish sell for 2 silver each. Used in the same pool as a jellyfish statue, with just enough room for both equals instant death for jellyfish
 * A good idea for spare statues, or those that are only used for decoration, is to use them in the organization of player storage. This is a much better alternative to using signs, as players will easily know where they may have stored certain items and they won't have to read the signs to check either. For example; Use the sword statue to symbolize 'Weapon' storage. Note that it might also be helpful to place things that might have a less imideate refernce online, as anyone can take anything from containers. You might use obscure refernces to prevent your hiding place from being easily known, such as a female NPC for weapons in refernce to "Xena: Warrior Princess". If nothing else, it might be able to let you take out things that are more one of a kind before somebody else tries to steal/unintentionally take your items.