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The Stealth Bracelet is a Tools gadget introduced in the 11.1.0 update.
It seems to be a blue bracelet with 4 golden parts, a metal part and a glowing part with a silver frame. On the side of the glowing part there is three orange buttons.
The invisibility effect makes you much more difficult to locate, and thus, more difficult to attack. Use this for offensive, defensive, and evasive purposes.
Use the duration of the invisibility to place traps around the battlefield, such as Demoman sticky bombs or Smile Mines. Do this most commonly around corners where your opponents won't have time to react.
Use the Stealth Bracelet as a means of making quick getaways. A good way to do this is when you round a corner or duck underneath something on the map.
While invisible, Turrets and the infamous Guardian are unable to detect you, so use this to kill them efficiently without taking damage.
Using the Stealth Bracelet in Flag Capture is efficient whether you're trying to capture flags or trying to defend yours.
Hit and run tactics with this gadget are very efficient.
Enemies in Arena mode are unable to see/pursue you while this gadget is active, so use it to get away from enemies if your in a pinch.
Use this with the Dark Force Saber or any other high mobility weapon, and you'll almost be impossible to hit.
This gadget is put to much better use in the day, as you can easily see the white particles at night.
Enemies whom use the gadget can be identified by a cluster of white specks. Keep a close eye out for them, especially around corners or in hidden areas. Use area damage weapons to maximize your chance of dealing damage to an invisible player.
Use the Third Eye, as it has X-ray vision.
Use Area Damage Weapons or any weapon that provide bullet spread (such as shotgun weapons). The range of the ammo for these kinds of weapons make it easier to catch invisible enemies.
Weapons with homing properties, such as the Smart Bullet Bazooka, can still track invisible enemies.
The Voodoo Snowman is still able to hit invisible enemies. Use this to catch one if searching for them doesn't go well.
Weapons with extended range, such as flamethrower-esque weapons, are able to search out invisible enemies and deal out fast, rapid damage.
A Disabler can render the Stealth Bracelet unable to be used. So if your opponent is about to use it, it's ideal to stop them in their tracks with the Disabler before they can use it.
Negative effects like burn,poison,bleed,and many others expose the users.
The Stealth Bracelet bears a similar appearance and function to the Invis Watch from Team Fortress 2.
Killing an invisible player gives you an "Invisible Kill".
While in the Armory, if you click the icon for the Stealth Bracelet and watch your character, they will have a small little scene with the gadget.
They will spin the Gadget around, before tapping the screen, and strangest of all, make the gadget itself disappear, before holding up both hands, the device gone as if it were a magic trick. After a few seconds, however, the gadget will eventually reappear.