Caving Rope is a unique item that is very useful for making a visible pathway when exploring the Betweenlands Cavern layers so that players don't become lost.
Right-clicking the Caving Rope on a block surface will place a glowing anchor there, with a rope attached to it that also connects to the player. About every four blocks the player moves horizontally away from the anchor (and about two blocks vertically away), one additional piece of Caving Rope will be consumed from the user's inventory and automatically places as another anchor as part of the same rope. The rope will be continually placed this way until all of it has been consumed from your inventory, at which point the rope will disconnect from you if you go too far from the last anchor point. This results in a long stretch of rope dotted with glowing anchor points, functioning as a sort of visible pathway that can be followed in case one gets lost.
If one wishes, a rope can be manually disconnected or reconnected from/to the player by shift-right clicking the last anchor point.