Rusty Axe

Rusty Axe is a tool, as the name suggests, used to gather wood. You can aqquire it in a chest below the hut, slightly left to the door. If you lose this one, you can get another one by fishing it out.

   To do this, you will be required to have completed the build dock quest. If you have, craft a fishing rod with 2 wood and 1 cotton. Otherwise, find the quest in the link. Anyway, you can aqquire cotton seeds in 2 ways. One is to buy them at the food seller. The other, if you've completed the quest, is to ask the farmer for some. With the rod created, head over to the west side of the island where you can start fishing (east is where you met the hunter). Snagging a rusty axe isn't very easy or common.