Ubuntu 12.10 gets a codename Quantal Quetzal,Canonical founder Mark Shuttleworth revealed on his personal blog post. Ubuntu 12.10 is scheduled for release in 18th October 2012.
In his blog he said that “I give you the Quantal Quetzal, soon to be dressed in tessellated technicolour, now open for toolchains, kernels and other pressing preparatory packages.”
This is release Colonical mainly focus on the quality of the Ubuntu . This means you can except small amount of new features. According to wikipedia Quetzals are strikingly colored birds in the trogon family, found in forests, especially in humid highlands.