First off, I don't own the PS4 version of Don't Starve quite yet, but I saw some posts about this issue and I decided to report it incase someone has not. Basically fish up flotsam, look at flotsam, see it is invisible. I have not been keeping up with PS4 patch notes (cause I do not have one yet) so for all I know this has been fixed, if so just close this thread. Thanks.
1. Fish flotsam, 2. Look at Flotsam, 3. See that item is invisible.