A tattered burial shroud
1/day for up to 10 rounds: can become invisible and ethereal. You are incorporeal during this time, and can fly at 1/2 your movement with perfect maneuverability.
Additionally, for up to 10 minutes per day, you can wrap the shroud around your face and see invisible, as per the spell.
This item is word activated, and anyone that knows the word can use it. no attenuation period needed.
This item is Fuzoku Butsu created, and thus has no drawbacks.