Bunny Statue

The Bunny Statue spawns bunnies when wired and activated, and has a relatively fast cooldown time. During a Blood Moon, it will spawn Corrupt Bunnies rather than bunnies.

Tips and Tricks
Bunny Statues can be used to obtain a Bunny Hood. Placing one in a small room containing pressure pads connected to Dart Traps, and back to the statue, will result in an infinite loop of bunny kills. If this is done during a Blood Moon, it will spawn Corrupt Bunnies instead, and Bunny Hoods can be dropped in large quantities.

Furthermore, one may use Vile Powder to simulate the effects of a Blood Moon on the bunnies. Corrupt Bunnies also drop coins in the range of 4-5 silver, and one can spawn 3 per second if three 1-second timers are attached to the statue. This makes the bunny statue an extremely useful gold generation mechanism.

(Edit) The timer is only necessary in case the Corrupt Bunnies are all killed or if the pressure pad is places in such a way that the bunnies do not pass over it by foot. As long as a spawned Corrupt Bunny (or player or enemy even) touch the pressure pad, a new Corrupt Bunny will spawn. Swinging a sword repeatedly or simply placing a shallow lava moat in their way AFTER they have walked over the pressure pad will ensure the maximum amount of spawned bunnies never get reached; thus spawning a new over and over again. (A passage 2 blocks high will ensure the bunnies do not jump over the pressure pad.)

Once the world is in Hardmode, a wired Bunny statue can be placed inside an underground Corruption or Hallow biome. During the Blood Moon, when the Corrupt Bunnies die, they will have a chance to drop Soul of Night or Soul of Light respectively.