The Coiled Launcher is a treasure in Pikmin 2 that is actually a rusted spring. It is found on the 3rd sublevel of the Subterranean Complex. It is the 133th treasure on the List of Pikmin 2 treasures in the NTSC version and the 132th in the PAL version.
Captain Olimar's Journal
"I tried flying this thing once, but it moved too rapidly and I contracted vertigo. Maybe it could be used as an amusement ride. The youngins would love it! However, I don't think I'll ever ride it again..."
"Just an ordinary spring? Hardly! This is a high-speed thrill ride tested by one of our employees! Jump aboard for a ride so fast, it'll make you see other worlds!"