Drake is a creature type used for cards that depict flying reptiles, similar to dragons but smaller and less powerful. Mechanically, Drakes are a predominately Blue-aligned tribe, though there is a smattering in all other colors save White. They always have flying, and often have greater toughness than power. They don't breath fire.
The mind of a Drake is more similar to that of an animal than that of true dragons. It is often thought that drakes were descendants of the losers of the Elder Dragon Wars, like the wurms, but this is not true, for their ancestry can also be traced to the surviving Elder Dragons.
By and large, the difference between drakes and dragons is that dragons have wings in addition to their limbs, while drakes have one set of their limbs replaced by their wings, like birds or bats.  Some exceptions (such as Wind Drake and Dromar, the Banisher) exist, though. Drakes are especially vulnerable to æther vortexes.  
Notable types of Drakes
An azure drake attacked and was killed by Caliphear the Nightmare and his attendants in the Great Salt Marshes of Western Golthonor. Hakim Loreweaver had tamed one of these drakes and used it a pet and a means of traveling.
Torch Drakes and Drake Familiars live among the spires of the vast city of Ravnica. They are used by the Dimir and Izzet guilds. Also, the Gruul used to capture drakes to show off. Leafdrakes are an enhanced form of drake created by the Simic. Recently, among Simic krasis, there are the Drakewing Krasis, drake-lizard hybrids.
These Jamuraan drakes had the ability to nullify magic.
Created by Teferi while he was studying in the Tolarian Academy, they were used by Barrin in the defense of the University against Kerrick's forces. They had the irritating habit of disappearing into the time stream moments after being summoned.
Wyverns are particularly large drakes with a birdlike gait. They are known to exist in Jamuraa as well as the former plane of Rath. The Cerulean Wyvern of Jamuraa has sky-blue scales that allows it to surprise its prey from above on cloudless days, while Rath's Sabertooth Wyverns are known for their exceptionally large canine teeth. The former subtype Wyvern (only used on Cerulean Wyvern) is now incorporated into the Drake type.
- Doug Beyer. (November 14, 2007.) "Drakes and Dragons, Wurms and Worms", Daily MTG, magicthegathering.com, Wizards of the Coast.
- Magic Arcana. (December 04, 2006.) "Drakes vs. the Aether", Daily MTG, magicthegathering.com, Wizards of the Coast.
- Doug Beyer. (November 10, 2010.) "How to Design a Specter and More!", Daily MTG, magicthegathering.com, Wizards of the Coast.
- Magic Arcana. (May 25, 2006.) "Dissension Token Art", Daily MTG, magicthegathering.com, Wizards of the Coast.