The proto-planetary nebula Hen 3-1475 shows a remarkable highly collimated optical jet with an S-shaped string of three pairs of knots and extremely high velocities. We present here a detailed analysis of the overall morphology, kinematic structure and the excitation conditions of these knots based on deep ground-based high dispersion spectroscopy complemented with high spatial resolution spectroscopy obtained with STIS onboard HST, and WFPC2 [N II] images. The spectra obtained show double-peaked, extremely wide emission line profiles, and a decrease of the radial velocities with distance to the source in a step-like fashion. We find that the emission line ratios observed in the intermediate knots are consistent with a spectrum arising from the recombination region of a shock wave with shock velocities ranging from 100 to 150 km/s. We propose that the ejection velocity is varying as a function of time with a quasi-periodic variability (with timescale of the order of 100 years) and the direction of ejection is also varying with a precession period of the order of 1500 years.