Flowers can be quite useful if butterflies are captured, I suggest:
- Make a bug net (1x twig, 4x silk, 1x rope)
- Catch lots of butterflies (they spawn from flowers during the day)
- Make a flower garden by planting the living butterflies
- Catch more butterflies spawning from your flower garden
- Plant some butterflies and (roughly) pick the same amount of flowers (to keep your flower garden from shrinking)
- Repeat ad infinitum
During this process I suggest you keep your sanity up using alternative methods so that you can grow your butterfly farm faster and don't waste flowers. Alternative methods to keep up your sanity, include:
- Sleep on a straw/fur roll or in a tent
- Be Wilson and shave your beard (hopefully it's not winter)
- Don't wander out when it's dark
- When sanity starts dropping, stay away from the shadow creatures that you "see", staying near to them will only decrease sanity faster
This whole process can become quite intricate and involved, so it's easy to become distract and forget the first rule... Don't Starve!