Congratulations on winning the War of Wolves Daily Challenge! With this spirit equipped (it is a back item, by the way), you can double jump, and the guidance of the Wolf Spirit will improve your Wolfworld rewards (usually).
Wolf Spirit price in Growtopia: sells for about 15 BGL, buyers pay about 10 BGL (median of 209 offers from community Discords, past 30 days). Live price chart and the latest buy and sell offers.