“Can be deployed when falling to prevent fall damage.”
―Danger Zone description
The main usage of this item is to slow down long drops from high places. To obtain this, one must press the use key (E) on the piece of equipment to equip it. To activate it, the player must jump from a high place and press the jump key again to activate the parachute. The parachute does not necessarily work for low drops e.g. buildings that aren't that high.
To disable the automatic parachute activation use the following console command: "cl_parachute_autodeploy 0".