Pepsiman places down a delicious can of Pepsi cola behind himself - you are able to use this in the middle of a dash, allowing you to combine the largely lagless nature of this with the fact he can move while doing it. Picking up a Pepsi can will cause the drinker to heal 4% and have their speed boosted ever so slightly for a brief bit - making them into speed demons if they drink enough.
As Pepsiman hurdles over such hazardous things like fences, he will pick up any can of Pepsi he passes and drink it, allowing you to automatically heal up as you run along. The speed boost works wonders with Pepsiman's gameplan, as most of his movement-based attacks will cause him to travel further distances and have additional powerful effects.
You can also double tap the input for Pepsiman to shake the can for a moment before placing it down on the ground - if a foe trys to open this can, they will get sprayed in the face with Pepsi, taking 2% and some minor stun - though it keeps them from getting more, and things such as your superspeed tornado dsmash can help you reposition cans to make this an actual mindgame - if you want them to get away from cans anyway, your slide generally works well enough.