The Security System is a Dynamic introduced in the 16.0.0 update.
It appears to be a police-themed, blue and red safe. It has a blue star symbol on both sides.
In the player’s lobby screen, it flies around, scanning with a red wide laser scanner.
Apparently, none. Normally, other Dynamic craft items are supposed increase the chance of pets dealing critical damage. However, according to its description, it recites the name of this craft item, instead of what it would supposedly do.