* MAJOR EDIT 13.9.2007 *
I noticed the large number of views this deviation had and thought that it should be updated and made more accurate.

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Wakizashi is the shorter sword of the Japanese samurai (blade is about 50cm long), the longer and more known one is Katana.
The wakizashi I drew is representing one used by the emperor itself, that's why it has chrysanthemum-flowers as decoration (which was the Emperors symbol in feudal japan), and it's largely made of gold and other valuable materials.

This time I'll also add explanations for the words used in the picture, starting from the left:

Kashira = a cap on the back of the hilt
Tsuka = the entire hilt
Menuki = decorative thingies under the grip, orginally made as anti-skid devices, but later on they were only used for decoration
Fuchi = a collar in the top of the hilt
Tsuba = the sword guard, separates the hilt and the blade and balances the sword
Seppa = there are actually two of these, but only one is visible (the other one is under the tsuba), it's a metal spacer collar
Habaki = holds the wakizashi from falling off from the scabbard
Ha = the edge of the blade
Hamon = the line where the hardest steel of the blade separates from the softer steel in the rest of the sword
Shinogi = a ridge on the blunt side of the blade
Mune = simply the back of the blade
Kisaki = the top of the blade

Koiguchi = input sword here
Kurigata = a link in which the cord is attached
Sageo = a strap, used to secure the scabbard to the wearer.
Saya = the scabbard