The paddle down save is not very common anymore but sometimes is the best save for the situation. This save should be used on long dump ins and wraparounds. You don't want to do this position when the shooter is in close because he will just shoot high blocker side and your blocker is on the ice so it will be hard to reach the puck.
When making this save one leg should be flat on the ice and the other extended out on an angle. The paddle of your stick should be flat on the ice. Your glove should be up above your pad open to catch the shot. Keep your head up so that the shot can be seen and stay square with the puck.