The Horse-God Fabric is a key item from Tears of the Kingdom.
Tears of the Kingdom
"Tough fabric bearing a design of the horse god, Malanya. It looks like it could be used to make a paraglider."
The Horse-God Fabric can obtained from any Stable Association full-service stable - as opposed to Mini Stable - as the reward for accumulating five Pony Points on Link's Pony Points Card. It bears the face of Malanya, the Horse God, which is also seen as the effigy on top of every full-service stable.
Paraglider icon when reworked with Horse-God Fabric