Using refspec is a convenient way to grab a remote branch and create a similar one but with given name (or the other way round: create a remote one with a given name differe
git fetch origin master:mymaster updates branch mymaster in the local repository by fetching from the master branch of the remote repository.
git fetch origin master:mymaster
git pull origin master:mymaster does above and merges it into the current branch.
git pull origin master:mymaster