Owl's Nest

The Owl's Nest is a special structure in 99 Nights in the Forest. It spawns in the Snow Biome and can be found when your campfire is at level 4 or 5. The wiki lists its rarity as guaranteed and names a single inhabitant, the Owl, which is passive. The loot listed on the page is 2 Feathers, a Gem of the Forest Fragment, 3 Cultist Gems and an Ice Bow.

It works as a hand-in structure, in the same way as the nest-style structure in the Volcanic Biome. You put 5 Feathers into the nest to receive a reward. The first time, the reward is a Gem of the Forest Fragment. The second time, you receive 3 Cultist Gems. The third time, you receive an Ice Bow. The page says the process is almost exactly like the volcano one, so if you already know that structure the routine will feel familiar.

In practice this means the nest is worth far more than its two Feathers of loot. You need to collect Feathers elsewhere, since each of the three rewards costs 5 of them, so reaching the Ice Bow takes 15 Feathers in total. The rewards are significant, because Cultist Gems are used for higher-tier crafting and the Gem of the Forest Fragment is tied to the Gem of the Forest item.

The page is a stub, so there is no further detail on the nest's appearance or surroundings.