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From Terraria Wiki
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Wooden Yoyo's animation.
The Wooden Yoyo is an early-game yoyo, and generally the first available to the player. It is the weakest of all yoyos. It remains deployed for about four seconds before returning automatically to the player.
Its best Modifier is Godly.
- It is advised to either craft a Wooden Yoyo or to keep one that's already made until Hardmode, as you can use it to craft the Chik, a decently powerful yoyo that can aid you throughout the beginning of Hardmode.