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From Terraria Wiki
Tiger Climbing Gear
is an accessory
that allows for complete stops while clinging to walls. Holding the
key while clinging to a wall allows you to slide down walls a little faster than if you only had one of the accessories. While either clinging or sliding you can jump off of the wall, allowing you to scale vertical surfaces with ease. This accessory is useful if paired with wings, as when you latch onto a wall, your flight time is reset.
- The Tiger Climbing Gear is obsolete compared to grappling hooks, except for the ability to slide down. However, it's worth noting that the Tiger Climbing gear's effect is passive, and you do not need to constantly 'use' them like the grappling hook, this can make climbing with the Tiger Climbing Gear far less cumbersome than with a grappling hook.
- The Tiger Climbing Gear sells for 1 gold, despite each of its components also selling for 1 gold. This makes selling the pieces more profitable than combining them.