Tailcat is a new open-source tool that allows for secure, peer-to-peer connectivity over the internet, similar to netcat, but using Tailscale's data plane. It enables users to establish encrypted connections between two machines without the need for a Tailscale account or control plane. The tool uses WireGuard for encryption and DERP for NAT traversal. Tailcat can be used as a CLI tool or library, and it supports various features such as serving local ports, exposing SSH servers, and acting as an exit node.