Raccoons drop Fur when killed.
If attacked by the player, Raccoons will attack back. Raccoons, like Foxes, Boars, Crocodiles and other mobs, will attack smaller mobs such as Insects and even Kitties. So it is advised to keep tamed mobs away from Raccoons.
Like Goats, a Raccoon can be tamed by giving it any edible item, such as Apples, Raw Ostrich, Crab Meat, or Raw Rat. It takes around two such items to tame a Raccoon. They can also be led around with a Lead.
Like Foxes, a Raccoon that was attacked by the player on Easy difficulty or higher will still remain hostile if it was tamed.