Umbrella

The Umbrella is a held item that can either be found in surface chests or dropped by Slimes. When used, the umbrella appears above your character and allows the player to fall at a slower rate. It prevents falling damage, and replicates the effect of the Featherfall Potion.

Trivia

 * Is possibly a reference to the movie "Mary Poppins".
 * Alternately, it is a reference to the Parasol item/ability/character from Kirby All-Stars.