Carrot

The Carrot is a collection item.

Obtaining
Carrots can be obtained through collecting in the Barn, the area under the Mountain, and through Carrot Minions or manual farms on the Private Island. Carrots can also be bought from the for  each. There is a rare chance of getting a Carrot from a Zombie in the Graveyard too.

Collection
Collecting carrots increases the player's carrot collection, which grants useful items and perks upon collecting certain amounts of carrots.

Collecting carrots grants +4 XP.

Carrots
Carrots is a glitched item dropped from Frosty (the mob) when it was added in 0.7.5. Unlike most of the other glitched items, Carrots can be put on the Auction House. For some reason, the game treats Carrots as a block, and it can only be found in the "Blocks" section of the Auction House.

Trivia

 * It used to be possible to obtain a carrot on a stick named "carrot" when crafting in the 2x2 vanilla crafting table, however this has been patched.