The Sky Lantern, a player-deployable seasonal item, was released as part of the Lunar New Year event in 2022. It is exclusively craftable by those whom purchase it from the in game Item Store, or trade for it via steam marketplace after its discontinuation.
The sky lantern is deployable on most flat surfaces. Once placed, players may insert a single item (stackable, if they choose to) into the sky lantern, similar to the function of a Wood Storage Box. Players may then hit the sky lantern with a Torch, illuminating it and allowing it to take flight for a short period of time before descending back to the ground and becoming lootable by anyone that finds it.
They float relatively in a straight-line outwards in the direction the player was facing when lit. Purchasing the sky lantern steam item includes a default color, as well as Green, Orange, Purple and Red variations that change to that color when lit.