You get it from the second spy you rescue, who is being held at the electrified building on Toupee Terrace. To rescue him, you will need the Laser Pen you get by rescuing the first rescued spy (at...
When you wear it, clicking on it (or while in the air) will shoot a line to the closest object or structure. The grappling bowtie is the only way to reach the Rooftops and rescue the third spy. There...