This can only be obtained during the Monk's playthrough.
After speaking with the grand master, use your telekinesis to catch the feather he drops, and go back down the mountain. Have all three characters stand on the red bridge with one holding the feather. The monk will then drop the feather. Have one of your other characters pick it up and proceed through the challenge until you must stand all three characters on magic carpets.
About halfway up there will be an aclove on the right with a rope visible. Quickly move all three characters to this rope and climb to the bridge. It will collapse under your weight and the trophy will pop.