The SL button refers to the left shoulder button on the Joy-Con, when it is detached from the Nintendo Switch. The wrist strap that comes with the Joy-Con can be attached to make the button easier to press. It serves as an equivalent to the L button, acting as a shoulder trigger. In Ultimate, it is used for grabbing opponents, much like how the L button is used for grabbing in Super Smash Bros. for Nintendo 3DS. It is present on both the Left and right Joy-Con controllers.

SL Button in the top-left and bottom right part of diagram.