I think the title is self-explanatory.
Just spent 30 minutes looking for a cat that got stuck in an odd spot somewhat far from base, hence the Command Drum didn't work.

I don't have a suggestion for exact implementation, but it shouldn't be too similar to the Command Drum.
Maybe shift-right-clicking the Wayward Lantern brings up a menu that shows all tamed pets. Selecting one makes it ring - the selected pet/pets teleport to it by next dawn, similar to the pet bed.

Cheers!

This is a great idea. One of my pets is lost somewhere in the world as I didn't notice the escape out of the house in time. Out of the two I initially lost I found one, but the other is still wandering the world after days of searching