The Kalphite princess is a very rare drop from the Kalphite queen. When received as a drop it will automatically follow you, if you already have a follower out, it will go into your inventory. If it can do neither, you will not receive the drop. Upon death it will wander around for a short while until it disappears entirely. You can insure the pet from Probita for 500,000gp, if lost it will cost 1,000,000gp to get it back. You can right click "Metamorphosis" to change it's form.