I was bored one day... (Alternate costumes are in parenthesis, transformations are listed) 
Mario (Paper Mario)
Luigi (Paper Luigi)
Peach (Paper Peach / Daisy)
Bowser (Paper Bowser)
Bowser Jr.
- Shadow Mario
Yoshi (Boshi)
Wario (Classic Wario)
Donkey Kong (Funky Kong)
Diddy Kong
King K. Rool (Kaptain K. Rool / Baron K. Roolstein)
Link (Shadow Link)
Zelda
- Shiek
Ganondorf (Toon Ganondorf)
Toonk Link (Young Link)
Kirby
King Dedede
MetaKnight
Samus (Dark Samus)
- Zero Suit Samus (Gandrayda)
Ridley (Meta Ridley)
Fox (Falco)
Wolf (Leon Powalski)
Pikachu (Pichu / Raichu)
Pokemon Trainer
- Squirtle
- Ivysaur
- Charizard
Mewtwo (Lucario)
Jigglypuff (Igglybuff / Wigglytuff)
Captain Falcon (Black Shadow)
Captain Olimar (Louie)
Animal Crossing Villager (Female Villager)
Ike
Marth (Roy)
Black Knight (General Zelgius)
Ness (Lucas)
Pit
Ice Climbers
R.O.B.
Mr. Game & Watch
Snake (Big Boss / Old Snake)
Sonic (Shadow)
Tails
Knuckles
Dr. Robotnik
