I have already got a local master branch tracking the remote master branch of a github project. Now, a collaborator of mine has created a new branch in the same project, and
git fetch
git branch --track branch-name origin/branch-name
First command makes sure you have remote branch in local repository. Second command creates local branch which tracks remote branch. It assumes that your remote name is origin and branch name is branch-name.
--track option is enabled by default for remote branches and you can omit it.