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This article contains information that is no longer relevant to gameplay, but is kept here for informational purposes.
Wooden Stake was a Legendary Crafting Material in Diablo III. It has a character level of 1, is account bound, and has a maximum stack amount of 1000. It was required to craft the Blitzbolter legendary hand crossbow. As of patch 2.0.6., it no longer drops, and existing Stakes can be sold for 50,000 gold.
It could only drop from the unique Skeletal Archers:
Skeletal archers are known to use these wooden stakes to craft arrows.