The piece took 8 years to complete and was put on display at London's Victoria & Albert Museum in early 2012. Godley and Peers reportedly set out to create a piece of clothing "with the quality of a fairy story," according to The Guardian.
Goldey and Peers, a textile artist, also stressed that the spiders, which are "only mildly venomous," were "borrowed" from the forest to work on the project and returned after just one day of spinning silk.
The Magagascar Golden Orb spider's are dangerous, though, and if you need proof take a look at the scar on Godley's neck.
"They do have quite a strong bite," Peers told The Guardian, "enough that you would feel like shaking them off quite quickly."
Residents of Madagascar have been extracting golden silk from these spiders for centuries. Illustrations of the devices used date back to the 18th century. Peers himself spent 20 years studying the extraction and use of golden spider silk while living and working in Madagascar, and claims he is the first artist to us the material in 100 years.
Peers met Godley when he moved to Madagascar from the US to set up his own business, and the two decided to join forces in order to revive the century old practice of weaving golden spider silk.
The eight-year long process produced 25 grams of spider silk. Godley and Peers have stated that their golden cape is a one of a kind piece of art, and won't be mass produced for commercial purposes.
Check out this video of Godley and Peers introducing their golden spider silk material at the American Museum of Natural History with actress Heather Graham: