The Suspicious Looking Present is a pre-hardmode item that has a 0.4% (1/250) chance to be dropped from any enemy during the Christmas Holiday Season. The Suspicious Looking Present is used to spawn the Elf into the world. This will happen if the player has the present within their inventory, there is suitable housing and the Christmas Holiday Season is active. The Suspicious Looking Present can not be placed or crafted.
Unlike Presents, the Suspicious Looking Present can be dropped by enemies spawned by statues.
BUG: If a player has this item in their inventory at any time in a world, even if dropped or deleted, this item will not be dropped again within that world. However, multiple presents can be dropped by enemies if the player has not yet picked up the present.