Not all hounds are bad.
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I took the pet hound from my Polygone character and allowed it to follow anyone. However it won't be so easy for anyone else, first you have to make a Prestihatinator, then gather some glommer goop along with a few other materials in order to craft a collar. Drop the magical collar on the ground to summon a fluffy friend of your very own.

Hounds have massive health and a decent regeneration, and will follow whoever is closest to them. They'll attack anyone or anything their current leader attacks, but care should be taken not to hit them as they have no problems with defending themselves from abusive owners. (You have to hold Ctrl to hit them, shouldn't be much of a problem not to hit them.)

They do not need to be fed, can't be frozen, and won't catch on fire. (Note they will still take fire damage, they just won't go up in a blaze like most hounds) They're also ignored by all other mobs, even Tentacle Spikes and Giants, and will continue to follow their current owner even after the owner's death.

Overall, your new pet will be a strong tank for difficult enemies and will help distract and stun anything you might otherwise need help dealing with. Care should be taken however, as they are not invincible and if they die there is no way to revive them and you will have to make another collar to get a new pet.

For now, all hounds summoned will be named Koko, but I'll give them a bunch of random names to choose from at some point in the future.
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Through the magic of science, it has been determined that interdimensional hounds like to eat two kinds of gems: Blue, and Red. If fed a blue gem, a hound will cool off and be able to not only land more deadly strikes but also mend their wounds at a significantly increased rate! However, red gems anger the hounds and turns them a fiery red. This also increases the damage, but not as much as the blue gems seem to. However, in it's angry state the hounds attack far faster than their blue counterparts and they do have an increased ability to heal as well as being completely and utterly fireproof! Isn't hound science fun!?
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A new 'breed' of hound has been discovered, the shadow hound. This strange creature comes about by repeatedly feeding it nightmare-coated monster meat. Of course, to get them to down such a meal a little bribery with berries is required to help with the taste...but that shouldn't be much of a problem for someone who's advanced this far into the science of puppies.

This new nightmare hound type appears to have the strongest bite of all the forms, along with a fairly decent regeneration. Care should be taken however, as these hounds aren't the toughest bunch and will typically be killed quickly if under strong enough assault, as their shadowy forms lead their bodies to become overall weaker than all but perhaps a newly summoned hound...
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Something strange has happened! The hounds appear to have started multiplying freely, all it takes is the light of a full moon to cause our furry friends to bring forth a little ball of joy. It is unknown how this happens without any apparent mating ritual, or where exactly the puppies come from, but I don't think anyone cares to understand it. It may be science, it may be magic, either way it's completely adorable.
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What...have I done. By using nightmare fuel as an alternate power souce to the collars I've summuned...something. Lord knows what the thing is, even the King seems confused by it...her? I think it's a her. Anyway, the hounds seem to like...her. Ugh, makes me shudder just thinking about the beast. She doesn't move, she just...sits there. But she's useful, I guess. If I ever want to leave these extra hounds at home. Kiwi doesn't seem too interested in her though, guess he's too smart to fall in line under whatever ungodly creation I've brought into this world.
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*sigh* It seems my naming convention for these hounds is less than spectacular in the other's eyes. Especially Wolfgang, he keeps saying that these strong puppies deserve nice, strong names of their own. Bah. But...I suppose I do have a penchant for insanity. So to keep them happy I've devised a neat little list of names I've built into the collars. It should tag the hounds in such a way that anyone can tell what their name is. So basically they all have name tags now. I even named one after that Wilson fellow, I'm sure he'll appreciate that.

Side note: I've also found that meat seems to make the dogs extra-clingy...Until a reset happens. I still need to figure out what's causing that, see if I can stop it...