It's basically a special pet for alchemists and creators. They can be very helpful. There are four types of homunc, Lif, Amistr, Filir,and Vanilmirth. You have to level them like you would a character, and they get their own skills depending on their type. They have benefits and negatives to them, but I enjoyed my homunc when I had him.
A really good homunc with a good ai can be a real help in a lot of things. I used mine to tank weaker mvp's for me, and to molest people in pvp with his bolt magic and wicked str aspd. >>
