This cloak is a full length black cloak with a large hood with a large skull with a raven perched on top of a skull. As a bonus action, you can magically use the hood option of the cloak without requiring  the use of your hands or movement from the wearer.

Wearing the cloak with the hood down: 

Displacement. It projects an illusion that makes you appear to be standing in a place near your actual location, causing any creature to have disadvantage on attack rolls against you. If you take damage, the property ceases to function until the start of your next turn. This property is suppressed while you are incapacitated, restrained, or otherwise unable to move.

Night, is as day. You have the ability to see in non magical darkness.

Walking in the shadows. As part of your Movement, Dash, Disengage, Dodge, Hide action, you can step into shadows and from shadows (dim light and darkness) that you can see within 60 feet.

Protection. Grants radiant and force resistance.

Wearing the hood Up: (you gain these abilities in addition to wearing the hood down)

Devil's Site. You have the ability to see in magical and nonmagical darkness.

Death by Shadows. You are continually under the effects of the Shadow of Moil spell.

Improved Walking in shadows. As  part of your movement action, you can step into shadows and from shadows (dim light and darkness) that you can see within 60 feet. You can do the same and walk in and out of the ethereal plane.

Shadowfell step. Once per week, you can step into the Shadowfell.

Improved Protection. Grants radiant and force immunity.

Conditions while wearing the wood up:

While wearing the hood up, the cloak will be trying to cross in and out of both planes and will be very taxing on your body taking 1 point of constitution per round. After 3 rounds, it will take an addition point (2 per round). The only way to gain these constitution points back, is 1 per long rest or by the Greater Restoration, Heal, or Wish spells.

Lore:

This cloak was crafted for Zantorin Thenelis, High Priest of the Raven Queen.

It is made from the ancient shadow dragon of Undermountain, killed by Zantorin and his friends. The cloak is a full length cloak with a large hood and is black in color with a large skull with a raven perched on top of a skull made from displacer beast hide sewn with mithril thread. In the crafting process this cloak was almost lost as it crossed into the ethereal plane. The magical mithril thread sowing the displacer beast hide was the only way to magically enchant the cloak to allow it to remain in both plains of existence.

Notes: Disadvantage: Attack Rolls Against You, Resistance: Force, Resistance: Radiant, Sense: Darkvision, Creature , Deception, Warding, Outerwear