Boomerangs are weapons. Each weapon has a tier.
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Wooden boomerangs (weak but useful for new players)
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Enchanted boomerangs (Medium does a sufficient amount of damage and glows)
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Flamerang (An upgraded version of the Enchanted boomerang and does more damage and still glows) [Requires Hellstone bars to make the Flamerang]
Hope that helps abit.