Fastest-Drawing Fred is a cowpoke who appears in the "Elmo the Musical" segment, "Cowboy the Musical".

When Elmo first enters the wild west, he is approached by Fred and Slowest-Drawing Ed, who ask him what kind of cowboy he is. They explain that in the west, your cowboy name is defined by the unique task you can do. Fred receives his name by being the fastest draw in the west, while possessing other skills such as tumbleweed lassoing and wagon riding.