The key feature that helps to clearly illustrate that this graph has been moved down 3 units from the parent function \( y = x^2 \) is the y-intercept.
In the function \( f(x) = x^2 - 3 \), the y-intercept occurs at (0, -3), which is 3 units lower than the y-intercept of the parent function \( y = x^2 \), which occurs at (0, 0). This shift in the y-intercept directly indicates that the graph is translated downwards by 3 units.