Floating Islands are spawned in worlds, and are much easier to find in small worlds than large ones. They can easily be located by using a Water Bolt to shoot at the sky. Then, wait for it to shoot back. If it shoots back, you've found a Floating Island! Floating Islands contain a small structure that has a Skyware Chest inside. Golden Horseshoes and Starfury can normally be found in these chests, along with other loot. This is a great tool for pre-hardmode players who are looking to take a large step towards surviving the Wall of Flesh.