From Pink Tentacle:
This type of Tremoctopus, or blanket octopus, has a unique way of escaping from predators. When threatened, the octopus unfurls a giant sheet of webbing that trails behind like a cape. The webbing breaks apart rather easily when attacked -- much like a lizard's tail -- and it gets wrapped around the predator's face, giving the octopus a chance to flee.
Push play or go to YouTube. Link to Pink Tentacle article. Link to previous post on the Tremoctopus' sex life. -via All Night Surfing