From the Super Mario Wiki
The Parachute is a glider that appears in Mario Kart 8 and Mario Kart 8 Deluxe. It offers an acceleration stat boost but the glider lowers the weight stat. Its name implies as a parachute with stripes of several different colors. It shares its stats with the Cloud Glider, Peach Parasol, Bowser Kite, Parafoil, MKTV Parafoil, and Hylian Kite.
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