We show that unstable D-branes play the role of "D-sphalerons" in string th
eory. Their existence implies that the configuration space of type-II strin
g theory has a complicated homotopy structure, similar to that of an infini
te grassmannian. In particular, the configuration space of type-IIA (-IIB)
string theory on R-10 has non-trivial homotopy groups pi(k) for all k even
(odd).