Well done! This is very well written. (Though for some reason I had first and foremost read one-eyed, red-eyed cow and had gotten quite excited about it all).
Despite it not being a cow, reading through it has been a delight! You have clearly put a lot of thought into it, and you should know that it reads like a tale of its own kind. If I was a hapless pc i'd be rightly terrified upon sighting the creature, especially with the lore surrounding it.