While the most common application is the weapon sway effect, this modifier can also be used to animate other parts of the body.
Tip: For example, it can be used to animate hands or even a character’s spine when moving around.
When it comes to adjusting the values, here are the general recommendations:
Damping factor should be around ~0.4-0.5 — this has proved to be more natural in practice.
Stiffness should be a bit higher than Damping, around ~0.6-0.7 — this will add that spring or jiggle effect to the sway.
Speed depends on how fast the effect should happen. Setting different values for position and rotation might add variety to the motion and make it feel less “procedural”.
Space should be set to “Component” most of the time. “Bone” might be useful if you want to take the bone’s rotation into account.