Q. How long does it take to draw a weapon or ready an item from your backpack?

A. Most of the time drawing a gun or sword takes an action. Digging something out of your pack can take multiple rounds.

From the Savage Worlds Deluxe, Explorer’s Edition p. 74:

Simpler actions such as readying an item, drawing a sword, or other quick tasks usually take one action. More complex actions, such as lighting a torch, digging through a backpack to find a small item, and so on, might require a random amount of time (such as 1d6 rounds). The Game Master has the final say.

Readying Weapons: Drawing a weapon usually takes an entire round, but a character can do it faster if she wants. This is an action, however, and so inflicts the standard multi-action penalty of –2 to the character’s attack roll. Drawing two weapons at once, drawing a weapon from a difficult location (such as an ankle holster or inside a coat), or drawing a large or unwieldy weapon (a rifle, a shotgun, etc.), still inflicts a single –2 penalty, but requires an Agility roll. If the roll is failed, the weapons are drawn but the character may not attack that round.