Magma Cream

Magma Cream is a common collection object obtained by killing Magma Cubes.

Obtaining
Magma Cream is dropped by Magma Cubes. These can be spawned on a player's island with a Magma Cube Minion or by finding them in the Blazing Fortress.

Magma Cream can also be obtained by purchasing from the Alchemist for 20 coins each.

Usage
Collecting Magma Cream increases the player's magma cream collection and can grant useful items or perks upon collecting a specific amount of magma cream. It can be used to make a lot of items including Enchanted Magma Cream. It is also a good money maker if you're AFK.

It can be used as an arrow but only when using the Magma Bow, explaining why it can be in the Quiver.