The sword has an unusual appearance, the hilt being longer than the actual blade. It has a skull for a pommel and an eye on the guard. Half of the blade is serrated on one edge. Jake most likely is not proficient with this sword, as he is seldom shown using it.
In real life, there is a toy version of Jake's sword.
There is also a real life version of the sword itself. The video can be found here.
Real life version of Jake's sword made by Tony Swatton