Respawns 2 Minutes after you defeat it, in the Boss Arena in the Desert.
Daggers are the best weapons to farm the Treasure.
It may be best to ignore Treasure, seeing as it's reward is only 5,000 gold or that of 5 Bulls, but its health is more than 11x more than that of 5 Bulls.
If you can get the treasure to a Cactus, then surround the Treasure with a Wall (use the Cactus as a wall also for this), then it will lose health as if you used the pit trap, spike combo and since the Cactus can't break, it will do the job quickly. But make sure you get the last hit, or you will not win the gold.
You can also use Boost Pads to boost the Treasure into Cacti. But be careful you don't go down the same boost pad path, as you will most likely die.
Use Bull Mask to get the treasure without MOOSTAFA or MOOFIE attacking you.
It's the first and only Mob added that can't move by itself.
Despite not being a Mob that's "alive", it is affected by Poison.
Unknown Update (1.6.5 or 1.6.6) - No longer immune to Pit Traps