That's been on Pfaff machines for decades. Now it's on some other brands, I think. I have to look in my instruction manual for the name of the stitch.
The Babylock Sashiko machine makes an actual quilting stitch, without the clear thread stitch inbetween. I have one and love it for quilting small projects. I chalk on a stencil and follow it. This is not fast quilting, like longarm or fmq can be. It's a slower process, and the machine is like no other. It has no top thread at all, only uses a bobbin thread and the threading is also unique to that machine.