Demon Conch

The Demon Conch is an item only obtainable from fishing in lava. It will teleport you to the Underworld, below your world spawn. similarly to how a Magic Mirror does to your spawn point, or the Magic Conch to the Ocean. (Like them it has unlimited uses)

Trivia

 * It has the slowest use time in the game, tied with the Magic Mirror and Magic Conch
 * The Orange Crystals decorating the Conch sprite resemble the "Petals" of the Molten Skull Rose