Fairy Bell

The  is a spell introduced in the 1.1 patch. When used, it summons a fairy which follows the player and emits light, similar to (but faster than) a Shadow Orb, although the light that it gives off is brighter and has a larger radius than the Orb.

The fairy summoned will have a random color of pink, light green, or light blue and will follow you untill the buff has been removed either by death or by canceling it. It is free to cast and can be crafted at a Mythril Anvil.

Trivia

 * The Fairy Bell is a more powerful version of the Orb of Light, yet it costs the same amount of mana.
 * The color of the fairies may have some relation to the popular game series The Legend of Zelda, in which the hero finds three colored fairies similar to the fairies summoned by the bell.
 * With the Hero Outfit, you can use the Fairy Bell to act like Link from the series mentioned above.

Bugs

 * You can spawn a fairy even without enough mana, your character will not do the bell animation however.
 * The color of the fairy is completely client side, other players may view the color of it differently than you. However if you summon it while off of the other player's screen, it will appear as the correct color.