Hunting Bows are weaker and lighter bows, designed for, uh, hunting. They pose less range and damage then normal bows and cannot be used with anything past normal arrows (including wood and stone). On the other side, a skilled Gatherer can easyly deal critical hits to any sort of animal, increasing the overall loot as well.
You need 2 Sticks and 2 String
You need to be LvL 40 Gatherer to craft this