Phoenix Feather

The Phoenix Feather is a Hard Mode accessory that will revive you after 5 seconds where you died at. It can only be used once, then must be replaced. It has a 33.3% chance of dropping from the Shadow Mimic.

Credits
Credit for this sprite and idea goes to J-50N

His profile can be viewed here: http://www.terrariaonline.com/members/j-50n.133318/