C^ backflip
The C^ Backflip is a trick that allows you to backflip facing any direction, in 1 frame less than it would take to do a regular backflip. It was discovered by Plush and can save a couple frames in some TASes, since you don't have to come to a stop after turning before beginning the backflip.
It is performed by pressing C-Up and Z and holding a direction on the joystick on one frame, then pressing A on the next frame. Mario will backflip facing the direction the player pointed with the joystick.