It will not affect the shield in any other way.

In Java Edition, when put in a crafting table with a Banner, the shield will receive it's appearance.

Shields are often meant to be used in the Player's other hand, or 'off-hand slot'.

Shields can receive the Unbreaking, Protection, and Mending Enchantments via Anvils.

When using a Crafting Table the Durability of both Shields will be added together, plus an extra 5%. Shields which have lost Durability can be repaired by placing two damaged Shields together in a Crafting Table, or placing one damaged Shield in an Anvil and adding Wooden Planks. The amount of durability lost per attack is equivalent to the magnitude of the attack plus one. Shield crafting in Minecraft Shield crafting generator for Minecraft. To activate the shield, you need to sneak. Shields are used to block many types of Damage, like melee attacks, projectiles, explosions, etc.

1 Banner + 1 Shield => 1 Shield with Banner pattern.1 Iron Ingot + 6 Wooden Planks => 1 Shield.Shields can only be obtained through Crafting.

Minecraft 1.9 shields recipe