The Saxxy is a limited-edition melee weapon for all classes. It is a 75% Australium-plated statuette of Saxton Hale set into a small plinth. The Saxxy will function identically to the default melee weapon, when a player is killed, they will turn into a motionless australium statue, same way the Spy-cicle turns backstabbed corpses into ice statues. This is completely cosmetic.
The Saxxy is also given out to people with the Best SFM (Source Film Maker) and is only entered once a year.