What is "Baby Blue Eyes"?

[Sweetness]

There's a box up that has a timer on it.

What does it indicate?

[Sever]

It's a status you have on new or reincarnated characters. It allows you to freely travel between available charter stones. It lasts until you pick up an object, and then you can no longer travel that way.

A charter stone is a village owned object which serves as an entry point to the game.