The Collaborative International Dictionary of English v.0.48:

Outdraw \Out*draw"\, v. t.
   To draw out; to extract. [R.] "He must the teeth outdraw."
   --Gower.
   [1913 Webster]

WordNet (r) 3.0 (2006):

outdraw
    v 1: draw a gun faster, or best someone in a gunfight