Items that cannot be transformed will sink to the bottom of the Shimmer. Items will float upwards after transformation until they leave the liquid, then linger in midair and producing vibrant lights until a player picks them up, similarly to souls.
Some item transformations only work under certain conditions. A few items can only be obtained via this transformation, such as Ambrosia.
Most crafted items are transformed back ('decrafted') into their crafting materials.Shimmer has the unique function of transforming ('transmuting') certain dropped items and entities submerged in it: After Moon Lord has been defeated, it can be obtained by using the Bottomless Shimmer Bucket. It can be found in pre-Hardmode in the Aether, a mini-biome which generates once per world in the Underground or Cavern layer, always on the same half of the world as the Jungle. Shimmer is a shiny, lavender-colored, pearlescent liquid. For the debuff inflicted by Shimmer, see Shimmering.