If you end up killing The Mighty King Chicken with this item, an exclusive quote will appear from the boss.
While not being a good weapon, the egg comes in handy when the player wants an easy way to make money really early in the game. The egg sells for 10 copper, while the Fried Egg (which only uses one egg) sells for 20 copper, rendering it 200% more efficient when selling.
Even more efficient than the Fried Egg when it comes to selling, throwing the eggs on the ground and capturing the chickens it spawns with a bug net to sell them afterward is much better since it sells for 1 Silver 30 Copper approximatively. If we take the 1/4th chance for the chicken to spawn, it gets this method to ~ 325% more efficient to get money. It can be boosted even more by making Chicken Coops as it spawns eggs quite fast, gets you rapidly to a big number of coops and allows you to sell a large number of chickens every in-game day.
Throwing the eggs on a tile might get the chicken to get stuck in a block, stopping it from moving, spamming the left/right commands.
When thrown, the eggs have a 1 in 4 chance to result in these possible chickens: