The Quick Draw is Ike's side special move that was confirmed at the Smash Bros. DOJO!! A video of him using the move can be found at the external link. It appears to be inspired by Marth's critical hit animation. Also, in Ike's own games, when Ike happens to use a critical attack (at least before he changes classes as is possible in the Fire Emblem series), he takes up his sword and dashes forward, appearing to disappear and reappear behind the enemy. However, it is simply a matter of extreme speed and is very similar to the animation of the move in Brawl.
When used in Brawl, Ike lunges forward a short distance across the stage and slashes at the enemy. The move can be executed very quickly, making it one of Ike's fastest moves. It can also be charged by holding B to increase the distance Ike dashes across the stage, and the damage and knockback of the slash. The charge stance can be held indefinitely. If the move does not connect, it has very low ending lag, giving Ike a chance to follow up with a different attack. His Up-tilt, Neutral A combo, and his grab are decent follow-up options. This move can also be used while off the stage to give Ike a significant horizontal boost to his recovery. It can also be used to counter an opponent's dashing attack or special-in several cases when Quick Draw clashes with a similar special, Quick Draw wins (such as against Meta Knight's Drill Rush) or results in a draw (such as against Sonic's Spin Dash). it can also be canceled during the dash if B is pressed.