|Flying is a little more than throwing one's self at the ground and missing.|
The Aerialist's Skin somehow contains a fractional dimension, meaning that it acts like a net or trampoline. It does not need to be suspended like a net, the falling victim's body penetrates into the fractional dimension of the Skin, rather than the cold, hard ground. The Skin's surface is soft, with a lot of give. It will reduce damage from speed or falling by 6d6 or the equivalent of falling from 60 feet. The tackiness of the surface is amplified by speed and impact meaning that a person falling onto it will not roll or bounce off.
The Aerialist's Skin is unlikely to find its way into a dungeon, but it is an interesting "consumer magic device" which the general public will have a small amount of experience with. Wizards use it to learn to fly. Circuses use it as a safety device for high wire acts. Creative thieves and thief acrobats may find a use for it in cat burglary.
The material is flammable, so usually it is wet down before use.