In spite of an announcement back in February that post-release support for Terraria had concluded, this newsletter noted by PC Gamer has word that the developer is planning an unexpected version 1.2 patch they say will be "the biggest addition yet" to the sandbox game. Here's a bit:

Terrarians will encounter many new items, enemies, mechanics and challenges, to speak nothing of bosses and biomes. A lot’s been confirmed so far. For builders, there’s furniture, materials (rainbow bricks and shadewood), design tiles and banners (and campfires). Combat enthusiasts can look forward to beam swords, cannons, Hammush (Legend of Maxx reference!), snowballs, shields and traps. All tinkerers can rejoice at accessories, active and inactive versions of every block and wire fixes and enhancements. Apparel has also changed: vanity-wise, expect Egyptian, Eskimo, fairy and steampunk outfits; whereas armor can now be dyed and has grown to include snow and cactus sets. There’ll be different mobs and variations on old ones (non-mechanical bosses with unique AI; clown bombs won’t destroy tiles anymore) as well as appearing with health bars (with the suggestion that the on-screen reminders be toggled). Regarding mechanics: players will be able to automatically walk up half blocks and one block high tiles; PvP will be tweaked; and Hardmode will undergo changes, not just limited to the spread of corruption and hallow.

Aesthetic additions include a revamped character menu as well as rain clouds and normal clouds. Rain won’t be a major factor in lag creation since it will be a background effect; torches, then, being in the foreground, won’t be affected. World generation will also see the possibility of a giant tree, along with more flora and even stalactites. In the screenshot below, one of the first spoilers released to the community, we can see some of the new content, which I’ll speculate more on in a future article.