Harry Potter: 10 Fascinating Hidden Meanings And Metaphors
2. The Invisibility Cloak Is A Symbol Of A Happy Life
In the ultimate implication that death is inevitable, Harry finds out the mythology behind the Deathly Hallows, the three sacred items of the wizarding world, in the film of the same name.
The tale tells of the Peverell brothers who were offered anything they wanted by Death. The first brother chose the Elder Wand, the second asked for a stone to resurrect dead people, and the third asked for an invisibility cloak that could fool death himself. The Elder Wand and the Resurrection Stone are both stated in the film to be more trouble than they're worth; the story states that the brother who owned the invisibility cloak evaded Death before greeting him like an old friend when he was ready. Here, it's suggested that power isn't necessary to be happy: all that's needed, is living a long and happy life.
It therefore clears up why Dumbledore gave Harry such an important item so early in his life; it's a gift to suggest happiness and wisdom. It's also a great thing to give to the "famous Harry Potter", right?