I'm always late to the game with this stuff
Round 1:
Mario vs. Bowser
Ike vs. Black Knight
Jill Valentine vs. Nemesis
Sonic vs. Dr. Robotnik
X vs. Zero
Guybrush vs. LeChuck
Donkey Kong vs. King K. Rool
Sub-Zero vs. Scorpion
Pokemon Trainer Red vs. Blue
Luigi vs. Waluigi
Ryu vs. Ken
Yuna vs. Seymour
Samus vs. Ridley
Terra vs. Kefka
Chris Redfield vs. Wesker
Big Boss vs. The Boss
Link vs. Ganondorf
Amaterasu vs. Orochi
Zidane vs. Kuja
Mega Man vs. Dr. Wily
Gordon Freeman vs. Dr. Breen
Alucard vs. Dracula
Ness vs. Giygas
Frog vs. Magus
Cloud vs. Sephiroth
Kratos vs. Zeus
Pac-Man vs. Blinky
Solid Snake vs. Liquid Snake
Squall vs. Seifer
Siegfried vs. Nightmare
Dante vs. Vergil
Sora vs. Riku
Round 2:
Mario vs. Bowser
Sonic vs. Dr. Robotnik
X vs. Zero
Sub-Zero vs. Scorpion
Pokemon Trainer Red vs. Blue
Ryu vs. Ken
Samus vs. Ridley
Big Boss vs. The Boss
Link vs. Ganondorf
Mega Man vs. Dr. Wily
Gordon Freeman vs. Dr. Breen
Frog vs. Magus
Cloud vs. Sephiroth
Solid Snake vs. Liquid Snake
Squall vs. Seifer
Sora vs. Riku
Round 3:
Mario vs. Bowser
X vs. Zero
Ryu vs. Ken
Samus vs. Ridley
Link vs. Ganondorf
Gordon Freeman vs. Dr. Breen
Cloud vs. Sephiroth
Squall vs. Seifer
Round 4:
Mario vs. Bowser
Samus vs. Ridley
Link vs. Ganondorf
Cloud vs. Sephiroth
Round 5:
Mario vs. Bowser
Link vs. Ganondorf
FINALS:
Link vs. Ganondorf
Tiebreaker: 94321
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So I said, blue M&M, red M&M, they all wind up the same color in the end.
- Homer Simpson