Float canceling is a bug relating to floating. If Peach uses an aerial attack while floating, landing during the attack (whether still floating or not) will skip landing lag entirely and result in a normal landing instead.

Falco is an aggressive character whose primary strategy is to pressure the opponent. Falco's vertical mobility is possibly the best in the game. Additionally by using his 'short hop laser', he can control space horizontally, opening up his opponents for high pressure combos.