Ripcord

D.S. Halacy, Jr. Illustrated by Al Andersen and Robert D. Smith.  Ripcord. 
Whitman Publishing Co., 1962.

The TV show Ripcord aired between 1961 and 1962 for a total of 76 episodes.  

Opening Narration:

"This is the most danger-packed show on television. Every jump, every aerial maneuver is real, photographed just as it happened, without tricks or illusions. All that stands between a jumper and death is his RIPCORD." 

You can see an introduction to the show and unreleased pilot on youtube.

A toy parachutist based on the TV series was sold in stores.  It had a plastic parachute and you tossed it into the air.   I seem to remember having one. 

For more fascinating information about the show and the stuntmen involved, go to ctva.biz.