The Boots of Hermes are depicted as greaves with burning red wings on them. Kratos mercilessly amputates them out of the legs of their owner; the messenger god Hermes. These greaves allow Kratos to make a short dash forward, ramming through enemies and throwing them aside, as well as giving him the ability to run alongside walls. These walls are always marked with shining, golden bootprints. When not in use, the wings on the side coil themselves around the boots. They weren't among the scattered items at the end of God of War III, and could still be seen on Kratos's legs.
In the Fear Nothing Trailer, Kratos uses the boots of Hermes to run alongside a rocky wall and attack a Centaur General, by jumping off the wall and hooking onto the Centaur General with The Blades of Athena. This way of attacking his enemies wasn't present in the final game.