Arrows are the ammunition of the Bow and are crafted with Sticks, Flint and Feathers, which makes 4. However, Skeletons will frequently drop them as well about 75% of the time. They will do between 9 and 10 HP of damage if the bow they are shot from is fully charged. This will change if The Player has any of the Power enchantments on their bow.
After being shot from a Dispenser or Bow, Arrows will remain stuck in the terrain, falling if the block they are on is broken, and disappear in exactly one minute. Falling arrows can still cause damage, so be warned!