Springy Arachnoweave is an engineer-only permanent "enchant" to cloaks. It will give a 30 second parachute every 60 seconds. As of 4.0.1 this no longer takes a spot as an enchant, this means both an engineering enchant and a regular enchant can be present on one item.
Source
The recipe for this tinker is learned from Grand Master Engineering trainers.
Patch 4.0.1 (2010-10-12): No longer increase Spell power. But can now be used alongside other enchants. 
