1.Go to the Editor Mode.
2.Place a Player
3.Go to Empty - Backpacks - and select Steerable Parachute
4.Preview
You will notice that the backpack doesn't show up , I even tried to make it spawn in other ways but the only one that works ( to successfully spawn a parachute ) is to put it inside a crate or a vehicle which is something that I don't realy pretend to.