The Hand of Fate is a magical item in Skylanders: Trap Team, part of the Nightmare Express adventure pack, used to sweep across the battlefield, deal heavy damage, and stun enemies for strategic advantage. It's a collectible physical toy that activates in the game, with a Legendary version offering only a cosmetic color change (glow-in-the-dark spikes) but the same gameplay power as the regular version, making it a sought-after collector's piece. 
This video provides an introduction to the Hand of Fate: