Here are some of the Highlights of the Update , that interested me.

  • 5 New Mounts to get you around .
  • New pets including the Mini Minotaur.
  • The Queen Bee, King Slime and Pirate Invasions will now drop better loot.
  • Weapons and tools can be placed on a craftable Weapon Rack.
  • Shark statues generate in the world , they spawn sharks when there’s enough space.

New creatures:

  • Truffle worms – spawn in hardmode Mushroom Biomes.
  • Worms – spawn when breaking rock and dirt piles.
  • Grasshoppers – spawn when you are cutting the grass

Music:

  • New Music has been added to the Underground Crimson.

Questing :

Those into questing should go talk to the Angler(fisherman)  NPC and possibly earn cool new rewards. The more you Quest the better the loot gets.

Fishing has been added to Terraria.(Not a photo of the Angler)

In celebration of the update and the upcoming 3 year anniversary of Terraria.  The game will be on sale for 75% off starting Friday and ending Sunday.

More Info and the full Changelog : http://www.terrariaonline.com/threads/1-2-4-changelog.143548/