When viewing the inventory, the item that you are holding in your hand appears to be floating near the shoulder. This happens when in classic UI mode, and in Pocket UI Mode. This has been marked as resolved in the past; but clearly is not.
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Thank you for your report!
However, this issue has been closed as a Duplicate of MCPE-21414.
After some further testing, it seems this is a bug that affects certain skins, which has already been reported. If you have additional information, please add it to that report.
If you have not, please search before reporting, as it's likely that one exists already.
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Does this happen when you use a plain Steve or Alex skin also?