What can I do with killer bees?

There are a couple of ways to deal with killer bees without losing significant health and still getting the resources that come from killing them:

First, the easiest way to defeat Killer Bees is to use a Bug Net. Using the net will turn the Bee into an item in your inventory. Killer Bees caught this way can't be used to make bee mines or bee boxes. What you can do is murder it without removing it from your inventory. The way to do this is to mouse over it. You will see the "Murder" command pop up once you do so. Click the right mouse button and it will kill the bee without removing it from your inventory. This will result in a crafting material like a stinger or honey sitting in the place where it used to be in your inventory. This way, you can use the bee for certain crafting recipes.

Second, you could craft a bee catchers helmet. When wearing it, you will take minimal damage from killer bees so even if they manage to hit you a couple of times before you kill it, it wouldn't be a serious blow to your health. Once it dies it will drop a crafting object that can be used in recipes.

Killer bees can be put inside Chester, who can then be treacherously left to die among your enemies. The agonizing rage of killer bees will surely vanquish the unsuspecting attackers creating loot with a side bonus of some stingers and, possibly, honey from dead killer bees. The remaining bees can be recaptured. Chester will reappear unharmed after a day, ready to be left for dead yet again.

Or you can simply drop the killer bees on the ground in the middle of your enemies. Bees will take a quick nap, long enough for you to get away, and then wake up to seek prey.

It's much more useful and fun than just killing killer bees yourself.