I beat the Hydra for the second time just a few minutes ago, and discovered some new items that you get. If you defeat the hydra once, you get 3 EPF Medals. Defeat it twice, and you get a badge (pin) and a Hydra Head (Furniture Item). Here are some pictures:
Wow! We can earn EPF Badges. No doubt that soon, we can earn Bronze, Gold and Sliver ones! And the Hydra Head’s pretty cool too.