Teddie spins at the opponent like a drill. All versions of the move now have landing recovery, and have Fatal Recovery.
The A version is a fast attack, so it can be used as a risky form of attack or travel in neutral. Can leave Teddie in front or behind the opponent on block, depending on how close he was to the opponent when starting the attack. Either way, it's unsafe on block, so OMCing the attack to make it safe if blocked is preferable due to the Fatal Recovery. The ground version always leads to 5A on a ground CH, allowing a full combo, while air CHs or CHs with the air version launch the opponent into the air. Aside from that, is often used in combos when extra damage is preferred.
B version is notably slower, but deals more damage and travels further (about 3/4th of the screen). Leaves Teddie a good way behind the opponent, which can make it more difficult for certain characters to punish, but is also more negative on block. Launches the opponent quite far up, making it difficult to follow up on without OMCing or using a super cancel. Also used early on in a combo when proration is low, or as part of Fatal Counter combos, to tack on more damage.
The SB version deals the least amount of damage, but is the only version of the move that is safe on block, and it travels the greatest distance (slightly less than full screen). The move now has projectile invulnerability when travelling, making it a helpful tool against zoners. On hit, launches the opponent slightly, allowing relaunches with 2B into an air combo, but due to the high proration of the attack, rarely leads to much.