Bucket

Buckets are items used to transport lava, water, and Milk to other locations and to simply store them for later use. They can only be used to pick up a source block of any Fluid, rather than a flowing block. This can cause problems for waterfalls.

Buckets were added to Minecraft Pocket Edition in 0.7.0. They can be used on Cows to obtain Milk, on water to collect it, and same with lava. Buckets may also be found in Dungeon chests.

crafting

 * 3 Iron Ingots => 1 Bucket

Trivia

 * Lava Buckets can also be used as a weapon, as if a creeper is chasing you, then you can place the bucket in front of them and they will burn to death. But note this method will destroy all mob drops as well and will cause fire.
 * Buckets of Lava are the best item for fuel when smelting, they can smelt 100 items (where a coal block only smelts 90).
 * It can also be used to slow down or push mobs by putting water and retrieving it after.
 * Buckets are also called 'Iron Buckets' by some players.
 * Once lava, water or milk is used and the bucket is emptied, it will not go back to the stack and instead will make a different stack.