The Teslasuit is made of smart textile that allows transfer sensations by tiny electrical impulses. It is controlled by an on-board mini-computer.
Teslasuit is compatible with most VR Headsets and connects to all Bluetooth and WiFi-enabled devices.
About Teslasuit
Provide more immersion for games and simulation process
Establishing an instant direct connection between the user and interactive digital media
Bridging real world with VR and creating enhanced sensory experience
Transmitting dynamics in the virtual environment to a perceived level of user experience
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Beside of having a suit it also has some BatMan/Iron-Man-like accessories: Control Unit (T-Belt) 
The central Control Unit is responsible for managing the entire electronics on a suit.
4-core processor, energy efficient processor
1gb ram memory
32gb internal memory
TeslaOS (open-source operating system)
HDMI Output
Wi-Fi, Bluetooth
Battery
T-Glove 
The central Control Unit is responsible for managing The embedded haptic system allows the user or software developer to assign commands to the surface of the glove, replacing the need for any controller or “mouse” within VR/AR environment.
The addition of the motion tracking system would synchronize any hand gestures or movements. This would address the existing motion tracking issues developers are faced with at present.
One Particular situation I didn't see they pointed out is for those with any disability, like being blind or deaf, that's a way to show them a little bit of virtual reality, but as a new tech it will shows us the world of possibilities once released.
Technical specifications - Smart textile full body suit (Size : S, M, L, XL, XXL)
- Control unit
- Multimodular system and TeslaOS
- Wireless, Bluetooth v4.0 LE
- 16-64 Channels
- Pulse Amplitude 0-80 mA (per channel)
- Frequency 1-1000 Hz (per channel)
- Pulse Width 1-260us (per channel)
- Usage & Durability: Easy to use and wear, fully washable, made from smart textile
One last think
they are giving away some suits to developers in a form of a competition, check it here:
Free Teslasuit - full body haptic suit
Source:
Teslasuit - feel what you play 
The Teslasuit is made of smart textile that allows transfer sensations by tiny electrical impulses. It is controlled by an on-board mini-computer.
