Monkey Pet

The Monkey is a Pet that can be bought from Oringo the Traveling Zookeeper during the Traveling Zoo Event. It grants and, as well as abilities specifically for increasing your  efficiency.

Comparison to Ocelot Pet
The Ocelot Pet is another pet. Both the Ocelot and the Monkey have abilities which aim to increase the player's effectiveness at the skill.

At rarity, the Ocelot will grant (up to) +30%  Skill Experience. As it stands, this is a very powerful boost, but has a flat cap at +30%.

At rarity, the Monkey has a (up to) 60% chance to drop double Logs, (up to) +100, and will reduce the cooldown of the Jungle Axe and the Treecapitator by (up to) 50%. All three of these abilities combine to create a very powerful Foraging tool that, at Level 100, is better for farming both experience, and for harvesting logs. This power, however, is dependent on the environment provided for farming.

NOTE: While these two pets are both similar in their benefits, the Monkey Pet is considerably more expensive. Players may wish to consider this when making their choice.

Conclusion
If the player finds little competition for the Wood, the Monkey Pet is more efficient for experience.

If the player finds moderate or higher competition for the Wood, the Monkey's reduction in Axe cooldown is effectively useless, rendering the Ocelot Pet the more cost-efficient option.

Trivia

 * After Pets V2 update came out, the first few Traveling Zoo events only featured Monkey Pets.