The Ender Scepter is a useful tool that is powered by the player's Arcana. The Scepter teleports the player towards a block that they are pointing towards, within a 20 block radius. Each teleportation requires a substantial amount of Arcana so repeated jumping isn't possible.
The Ender Scepter can be very useful in combat and non-combat situations. The teleportation can be used to jump behind a boss, mob or player (in SMP), escape from said assailant by jumping somewhere they cannot follow easily.