This spring the IU offense will be experimenting with the pistol offense. The pistol offense is a hybrid of the traditional shotgun and singleback offenses. The quarterback lines up three yards behind the center, and the running back lines up four yards directly behind the QB. It is also commonly referred to as The 'Pistol Formation' as well as The 'Pistol Offense.' While The Pistol Offense has been experimented with by dozens of Football Bowl Subdivision teams like LSU, Syracuse, and Missouri, it is used mostly by the Nevada Wolf Pack. The Pistol has also made the transition to the NFL mainly being used by the 2008 Kansas City Chiefs.
Wikipedia has a few notes on this new formation. We could see some option coming out of this formation.