This Monster spawns at two locations, either/or, never at both spawn points at the same time. He drops "Captured Tooki Tears" ingredient for the "Tooki Tooki Soup" Adventure's Tome Cooking in Rohendel. The drop rate is really low. Chances of getting the ingredient after killing him is like 1/65. He does respawn pretty fast back and forth between the 2 spawns, as long as you have someone else at the other spawn killing him asap. Good luck everyone.

Having someone at the other spawn was useful, the spawns aren't random - he alternates spawning at one spot and then the other. Important to note that if you get the drop at one location, the other person can't come over to you and get it... so you'll need to continue until it drops at their location as well.