What Do You Get from Winning the Battle Royale?

The actual reward for beating the Battle Royale modes Solo and Squad is enabling you to use the umbrella chute instead of the default glider when you drop-off from the bus. Take note though that you need to beat the modes individually to unlock the use of the umbrella in each of them.

Nonetheless, the other thing (and probably the more important one) that you get is bragging rights. Having to glide down the battlefield using an umbrella chute will basically flaunt that victory you had among the other 99 contenders in a previous match -- which bears a lot of meaning to most of the players. If you chute down with an umbrella glider, notice other players to somewhat try to scramble out of your way. Sweet!

However, if you have yet to unlock the umbrella chute, you now know what it actually means -- so try to get yourselves out of harms way when you see a player nearby using one. Hope this helps!