The Flashlight looks like a glowing cube and is an equipment device that can be switched on and off to light up the area in front with white light - up to ca. 9 blocks.
If you look at your player character with 3rd-person view, you will see the blue Flashlight (when activated) floating beside your character's head. Other players will also be able to see it.
When you switch it off, it will usually become invisible when looking at the player character, but not on your 3D character model in your inventory.
Despite the blue color of the cube, the Flashlight emits a bright white light directed straight ahead and illuminates a few blocks in front of the player character. The further away, the dimmer the light gets.
The light from a Flashlight does not prevent Creatures nor random Treasure Chests from suddenly spawning directly in its light cone.
How to obtain
Currently only players who have a "Pro"-status are given that Flashlight as a reward for paying. Early backers and players who have bought coins for money via the store before August 2nd 2016 have been automatically promoted to "Pro".
The only way for new players to become "Pro" in Creativerse is by purchasing the "Pro"-DLC via Steam: http://store.steampowered.com/app/515710/Creativerse__Pro/
You cannot craft a Flashlight nor obtain it on any game world by playing; the same goes for the Glider. By buying or obtaining any costumes for the Flashlight, like the Ghostly Flashlight or the Jack-o-Lantern, you will NOT also receive a Flashlight itself. Instead, you will only be able to use these costumes as soon as you buy the Pro DLC together with the standard Flashlight that you have bought. Then, you will be able to select these costumes for the Flashlight as alternative "skins" (looks) than the cube.
The same goes for the Glider - you will not receive a Glider when buying a costume skin for gliders, like the Steam Glider. Instead, you will only be able to select this alternative look for your Glider as soon as you have bought the Glider as a content of the Pro DLC together with all its other benefits.
If you have bought the "Pro"-DLC and can't find the Flashlight (or the Glider) in the equipment at the right side of your inventory, then please exit the game and check your Steam game library.
Make sure that there is a check mark next in the "installed" box next to the "Pro"-DLC; and if it isn't there, please click the box, so the DLC will work properly. Then start the game again and look at the equipment slots next to your inventory/bag.
How to equip
The Flashlight is always equipped after buying/obtaining the Pro DLC and has its own equipment slot to the right side of the character model. It cannot be unequipped.
How to use
You can switch the Flashlight on and off while playing with "L" as the default key, which can be customized in your keysettings options.
In your equipment at the right side of the inventory, you will see a small green check mark if and as long as the Flashlight is switched on.