Magic Mirrors

The Magic Mirror is an item found in Chests in the Underground, Underground Jungle, Ocean, and Dungeon. It allows the user to warp back to their spawn with a roughly one second delay at the cost of 20 Mana. The Mirror was created to discourage players from committing suicide as a method to return home; it allows players with low health to return home without the risk of losing their loot. It is useful if a player finds themselves overwhelmed by enemies, and is also a quick means of escaping out of a Chasm in The Corruption.

Trivia

 * The Magic Mirror and Rocket Boots were the first two items to have their Mana cost changed.
 * Teleporting with the Magic Mirror while under the Horrified debuff from the Wall of Flesh will kill you on arrival of your spawn point/bed.