Skull of the Mad Chief
Drops from Skull of the Mad Chief. I found this item today and spent some time experimenting with it. For the cave, if you can break fall damage, just jump down the center and it will be in the next room.
The 
Skull of the Mad Chief is a toy dropped from a lootable treasure inside a cave in Tanaan Jungle that grants a powerful movement speed boost along with slow fall and water walking for 20 seconds.
Guide awaiting review
Travel to Cave Entrance
Head to the Bleeding Hollow cave east of the Ruins of Kra'nak in Tanaan Jungle, entering at 32.5, 37.3.
Navigate Inside the Cave
If you can negate fall damage, jump down the center of the cave and the treasure will be in the next room; otherwise work your way down carefully to the treasure at 34.7, 34.7.
Loot the Treasure
Loot the treasure at the bottom of the cave to receive the Skull of the Mad Chief.
Tips
The effect increases movement speed by 300%, stacking with a cloak enchant to bring base speed from 110% to 410%, though mounted speed only reaches 220%.
Taking damage cancels the effect immediately, and the toy is only usable outdoors in Draenor with a 20-second duration and a 15-minute cooldown.
Avoid jumping off cliffs while the effect is active, as the combined speed and slow fall can send you sailing far beyond your intended landing spot; cancel the effect before going over any ledge.
