As far as we know this is an exclusive trick to the HD version of Twilight Princess. This trick allows you to move at very high speeds when exiting water (if this is possible without water is still being tested).
1) Find a body of water and get as close as you can to the edge while still swimming
2) Turn around, walk forward and pause the game
3) Hold down on the control stick
This will cause Link to move at incredible speeds allowing for fast travel and possibly even for clips.