Parasol
Peach Parasol is Princess Peach's Up B move.
Peach leaps up into the air, holding her Parasol above her, at the apex of her jump, she will open the parasol and float down gently. The parasol does damage at all times of the animation. Once in the air floating, control is similar to using the Parasol item. If Peach has the Parasol item, she will use that item for the attack rather than her own.
While floating, it is possible to move left or right via directional influence. If down is pressed, Peach will close her umbrella, fall at normal speed, and become helpless. Pressing up again will open her umbrella and allow her to float again, although altitude cannot be regained.
The move is based on Super Mario RPG: Legend of the Seven Stars where, to leave her room without alerting the castle guards, she parachutes from her second story room using her parasol. A Parasol can later also be used as a weapon.
The move returns in Super Smash Bros. Brawl, however, its appearance is based on Peach's Parasol from Super Paper Mario.
