This Limited Edition item is available for 35000 c starting on October 24, 2010 and gives 350 xp when bought. It was re-released from October 30-November 13, 2011. The description reads "Add him to your island, he's a hoot!".
The owl blinks and moves its head.
Since the maintenance release on November 8, 2010 the owl moves its head to the side and calls a short "Huuh" when clicked!