The Owl is a critter that spawns near Towns on the surface Forest and Hallow during the night, when it is not raining. The Owl has only 5 health and no defense, and can be damaged by other enemies and players.
The Owl can be caught with any Bug Net to be carried around in the inventory and released later, or crafted into animated decorative furniture (Owl Cage). Once crafted, the Owl cannot be released again, unless the furniture item is de-crafted via Shimmer(Desktop, Console and Mobile versions).
The Owl can be spawned by the Owl Statue, however statue-spawned critters cannot be caught with any Bug Net, and will disappear in a puff of smoke when the player attempts to do so.
Heavy Work Bench(Desktop, Console, Old-gen console and Mobile versions)andEcto Mist(Desktop, Console and Mobile versions)
Trivia
Much like how Ducks have a human voice say "quack" as a rare Easter egg, the Owl has a 1/300 (0.33%) chance to make a human "hoot" sound instead of its normal sound.[1] The voice of this sound belongs to FoodBarbarian.[2]
Seeing a flying Owl may be confusing to some players due to a Demon Eye variant that spawns with an owl costume during Halloween, making it appear similar to a flying Owl.
↑Information taken from the Desktop1.4.4.9 source code, methods UpdateNPC_CritterSounds() in Terraria.NPC.cs and PlaySound() in Terraria.Audio.LegacySoundPlayer.cs. The type value of the sound in question is 46.