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This is a paid asset, but now you can download Invisibility Cloaking FX Free.
Invisibility Cloaking FX v1.1
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An invisibility cloaking special effect, making an object or character semi-transparent while distorting the background behind them.
A shader and material are included that can be applied to any Unity object, plus a custom script and detailed instructions to have any character cloak and de-cloak, subtlety fading in and out.
The cloak materiel has settings allowing it to be configured to precisely fit your needs.
Sound effects are supplied, along with a test demo environment.