Is the Snow Serpent wearing a parachute?

I’m not super knowledgeable about military gear but I just picked up a snow serpent and I was looking at the cover art and I realized that that blue part across the front of his midsection looks like a parachute pull. Is he wearing a parachute or is that something else? Why would he need a parachute if he’s just tromping around the snow? The answer is probably obvious but hopefully somebody can clear this up for me.