Dizzy's Rare Gecko Chester

Deerclops is the source, so this sits with the crossover boss rather than anywhere in the normal progression. He can be summoned in a snow biome well before the point his loot suggests, which means you can be wearing this long before the rest of your gear catches up.

Chester is the wandering chest that follows you around in Don't Starve. This one is yellow and upside down because a Terraria streamer wore it that way on camera for years, and the second half of the tooltip copies the phrasing the developers put on their own personal items. It is a nod to one specific person rather than a general crossover, which is why it looks like nothing else in the game.