A wandering light is an one eyed-child, who, due to its violent death, has to guard treasures, hidden underground. It is not able to walk, only fly and emits a ghostly light.
My ‘2 penny worth’ on the traditional take was…literally a coin. A golden coin on a cord around its neck, which it chews, like babes with teethpains. According to the lore, treasures mainly consisted of golden coins. Imagine greedy humans, not being able to resist a lure of more gold hidden somewhere and following the creepy flying flame to their doom. Traditionally, the embroidery on a shirt was considered a protection against ‘the forces of the night’; note that even if the embroidery signify ‘life and growth’, no pattern is finished, interrupted either by tear of a stain. For Wandering Light will never grow up or ensure the security of ever-growing yet fragile humanity; instead it is destined to bring only death and ruin in a wake of its cold light.