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Baddies drop a rare green warp crystal that brings you to that area, giving you access to a new cave. However, the cave doesn't have anything to offer really.
I'm guessing they'll add a new quest that goes along with the useless green crystal.
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There actually already is a quest. You have to use the flippers at the pond inside the cave. The Great Fairy will appear and send you to the second part of the scarf quest. Of course this is oldish content which is probably why you never knew.