Molten Skull Rose

The Molten Skull Rose is an accessory that represents the final upgrade of the Obsidian Skull. It grants immunity to fire blocks, grants immunity to lava for 7 seconds, and reduces damage taken from lava. It can also be worn in a Social Accessory Slot as a vanity head item.

When the Molten Skull Rose is equipped and the player comes into contact with lava, a 7-second countdown begins, signified by a lava meter that displays over the player's head. It operates similarly to the Breath meter, but displays flame icons instead of bubbles. Lava immunity time is recharged gradually by exiting lava, the same way breathing time is recharged by exiting water (albeit much more slowly).

This item can also be crafted in three different ways.

Recipes
Note: The above table seems to be incorrect - you can combine an Obsidian Skull Rose with a Lava Charm, NOT a Magma Skull.