This is an unflown ringsail (main) parachute from the Mercury program. Approximately 63 feet in diameter when deployed, it is made mostly of nylon. After deployment of a drogue parachute, the ringsail parachute deployed at an altitude of about 10,000 feet to help slow the capsule before it landed on the ocean.
The Radioplane Division of Northrop Corporation made this artifact. In 1971, McDonnell Douglas Astronautics Company in St. Louis transferred many leftover artifacts from the Gemini program to the Smithsonian on behalf of the National Aeronautics and Space Administration, including this parachute. The former McDonnell Aircraft Corporation had manufactured the Mercury and Gemini spacecraft.
This object is not on display at the National Air and Space Museum. It is either on loan or in storage.