Oh yeah this will come in handy. It's Suzanne Cooper's notes pertaining to water safety. With this knowledge under your belt, you won't have to lose a charm whenever you fall into water.
― Bentley describing water safety[src]
It was developed by Suzanne Cooper, who had an aversion to water, which inspired her to develop this power-up and document it in the Thievius Raccoonus. With this power-up, she was able to safely jump out of water without losing a Lucky Charm. Once Sly obtained the page with this information, he was able to use it to his advantage during his many capers in the game.