Editions: Daedalus Paper Wallet
Daedalus Paper wallet is one of several Daedalus wallet editions that is used on the Cardano Blockchain. As the name indicates, it's a piece of paper, not a software application. Its main purpose is to provide security from online attacks.
Pros & Cons
Paper wallets can mitigate the risks that are present for online wallets such as hacking, and malware. On the other hand, paper wallets have their own risks such as loss and physical destruction. Physical security is probably more of an issue for paper wallets.
See also Tips for Staying Safe Online