The most dangerous thing is that all of its attacks carry soul true damage. Once you're hit and turned weak by it, your soul can easily leave your body and be sent to the road of the dead, which, in the words of players, means this creature has an 'instant death' attribute.
However, apart from the Origin Land, you basically won't encounter this thing in other parts of the continent.
They are high-level symbols of the Netherworld Will.
It is said that the Three-headed Dogs are responsible for punishing those sinners on both sides of the road of the dead. They won't harm the virtuous and heroes, but all sinners will have their left legs bitten off and can only painfully crawl on the road of the dead to reach the gates of the Netherworld."
"Hey, Sanchez, quiet down! Don't embarrass me in front of new friends."