The Lantern Stick is an equipable item that's worn on the back armor slot, it provides a fair amount of light, useful for spelunking.
It is made using the Wooden Crafting Table with 10 Unrefined Wood, 15 Iron Bars and 500 Pixels. The schematic is unavailable until unlocked by using the Starmap Upgrade MK2.
When worn on the back vanity slot, it does not emit light.
Gallery
The icon of the Lantern Stick.
Lantern Stick cropped close.
The fair amount of light the Lantern Stick gives.