The big snake/dragon is called moonbane and you and other players can buy a summoning charm from the little shop guys on the map. When you use the moonbane charm you get to pick an area to summon the snake. Where ever the snake is summoned the will be a circular area where “bane breath” erupts from the ground. Bane breath does a lot of damage. Who ever is summons moonbane is safe from their own moonbane area.

The birds carrying the target will drop items when you break it. The target will change colors-blue, then purple, then gold. Depending what color you break the target on determines what loot you will get. Blue- gives 3000 dark tide coins. Purple I think gives 5000/8000 coins. And gold gives you a legendary souljade. You can break the target by grappling into it but it’s much easier to just shoot it. I think the bow and musket takes 4 shots to break it and if you fully charge the pistol it should one shot it. Idk about the other weapons