Peach Parasol
From the Super Mario Wiki
Peach Parasol is a move used by Peach in Super Smash Bros. Melee and Super Smash Bros. Brawl. She uses the attack once the B Button is pressed, alongside the Control Stick being tilted up. She smashes up with a white Parasol and damages any players which it hits. This attack is very similar to Mario's Super Jump Punch, in the fact that it launches her up, and hits the opponent several times in one jump. She then comes down, safely gliding down on her parasol, acting as one of the most useful third jumps in both games. Unfortunately, Peach is unable to attack while gliding. However, The parasol can damage enemies by touching them. Furthermore, the parasol can be closed during flight to fall quickly (though Peach will be in a helpless sate). In Brawl, her parasol is based heavily on it in Super Paper Mario.
Interestingly, if Peach uses the Peach Parasol while holding the Parasol item, she will replace her usual Parasol with that Parasol.
