It's called a slider, it slows down the inflation of the parachute. Without it the parachute would open instantaneously and you would go from 200kph to 10kph at once and that would hurt. Some parachutes allow you to remove it after the canopy is inflated, I think it helps to remove it for more advanced manoeuvres.
@@oamarkanji3153 Thanks for that..i had always wondered what it was for too....I have only done 3 static line jumps,many many yrs ago,when it was round parachutes,a reserve attached to your front and two days training before you jumped....Going for a tandem next year all being well,just to have the experience of free fall once in my life.The Static line jumps were from 2,500 feet.Last one i did was 1996 !!