The water lycan is a legendary pet unlocked along with the purchase of the paid RunePass.
A water lycan has three stages of growth. It will take approximately 15 hours to reach the adolescent stage and an additional 25 hours to reach the adult stage, though this can be sped up by interacting with the pet. Stages can be skipped by using a Growth Surge on the pet, e.g. baby to adolescent or adolescent to adult.
Like all pets and summoning familiars, it cannot enter or use its abilities in certain areas.