Recovering

A Recovery is the only way to reach the stage after being knocked off. The most normal recovery move is the Up Special Move, which gives a vertical recovery (and for some characters, a horizontal recovery as well). However, several characters possess the ability to perform a horizontal recovery through the use of the Side Special Move. Some characters also have a tether recovery, allowing them to grab the stage's edge from a limited distance. Most recoveries will leave the character helpless after being performed, although some, such as Sonic's Spring Jump, can link into other attacks.

List of recovery moves
This information is based on the current demo:

Ichigo
Ichigo can use Engetsuzanzai for good horizontal recovery, but if he misses the ledge, he will be in a helpless state. This move is good to counterattack an oponent. For longer distances, it is better to use Kouteiki Toushin for more horizontal and some vertical recovery.

Kirby
Kirby's main recovery is his five midair jumps. Final Cutter can be used for good vertical movement but if you miss the ledge, you will fall downwards and have no chance of recovering.

Link
Link's primary recovery move is Spin Attack. Link's bomb, if it explodes while he is holding it, can give him back his Spin Attack recovery. Link also has a tether recovery; however, this has not yet been implemented although it is confirmed that this will be added sometime in the future.

Lloyd
Lloyd doesn't have a special recovery move, other than his midair jump and Tiger Blade, which no longer gives a good vertical recovery. In the current demo, he could use his formerly Side Special Move, Sonic Thrust, to get a decent horizontal recovery.

Mario
Mario has many recovery moves. He can use the Cape repeatedly for slight horizontal recovery. Star Spin slows his descend and can freely move around while in midair which makes it easier to recover. The Super Jump Punch can be used for decent vertical and horizontal recovery, but will leave him helpless. Prior to the Cape's implement, Mario could use as his Side Special Move, the water-cannon F.L.U.D.D., which gave him excellent horizontal recovery and didn't leave him helpless, so he could use it again.

Mega Man
Mega Man can use the Proto Shield for slight horizontal recovery, but its lagginess, when combined with Mega Man's fast falling speed, lowers its usefulness in recovering. The only real recovery he has is Beat Flight, which gives good vertical and horizontal recovery, although if he is attacked while performing this move, he will be unable to perform it again, which leaves him helpless.

Naruto
Naruto doesn't have a special recovery move, other than his midair jump and Rising Kunai Slash, which gives a good vertical recovery. This applies to his Final Form as well. However, it has longer distance and does not damage opponents.

Sonic
Sonic's Spring Jump gives him a great vertical recovery, and if it is controlled well, it can also give him considerable horizontal recovery.The Spring Jump move has a unique glitch. If you use Sonic's up, forward, back or neutral aerial before he reaches the height of the Spring Jump, the move can be used again, giving Sonic an infinite recovery. This glitch was removed in version 0.6 of the demo.

Homing Attack can be used in recovery to counterattack edge-guarders. Light Dash gives him a decent horizontal movement when uncharged and good horizontal movement if fully charged. This move can be used with his other jumps; however, if the midair, or second, jump is already used, Sonic can not use his Spring Jump immediately after it, but he can still use it two seconds later, so if you are using the move, use it before your midair jump. Spin Charge can be used for slight horizontal movement, but you must get him out of his spinning state, or he will fall down fast.