(sorry to tell, but MC-129233 stole this. please do it as relates to and remove the part that is like this from that report)

The bug

When walking with items on the ground, they bob up and down, like when using an item (Eye of Ender, for example)
Does not affect Block Items, like Turtle Eggs (even with their item texture) and Normal Blocks.

How to reproduce

1. Go to creative.
2. Take an item.
3. Walk on ground.