I made this Dora parachute for my daughter. The weight/passenger came from the handle of the umbrella. My four year-old is not big enough to throw high enough, but she does enjoy trying to catch it.
Step 1: Skinning the umbrella
Here are some that I have some saved up for a rainy day.
Step 3: Measuring the string
Step 6: Connecting the ends
If you don't have tips, then knot each end and use a sewing machine to stitch back and forth over the knot.