The Bed is a usable piece of furniture that enables players to quickly skip either (the rest of) the day or the night. From R41 in May 2017, sleeping in a bed will also restore health.
You can craft Beds in your Crafting Menu (default key "Q").
To craft a basic Bed, you will need to unlock its crafting-recipe first by
- crafting or picking up a Wood Chest
To craft one Bed you'll need
- 1 Twine, made of Vines in a Processor
- 1 (block of) Shredded Leaves, made of any kind of leaves taken from trees in a Processor
- 4 Wood Rods, made of any kind of Wood or Log in a Processor
- 2 Stone Rods, made of Stone, Limestone or Bedrock in a Processor
Like all beds, you can use this basic bed (use your right mouse button while looking at it or type "F" as the default key to activate the bed) to quickly skip the rest of the day if it is daytime ingame or to skip the night if darkness has already fallen. However, on multiplayer worlds it is necessary for all players to go to sleep in order to skip time.
Despite the game advising you to not jump on the bed, you can give it a try if you like (no downsides to this noticed so far).
Since R32 you won't need to equip any Power Cells to pick up Beds that have been placed into the world. Of course you won't be able to take objects on claims or in gameworlds of other players where your permission level is set low.