Cheat mode:
Hold Select and press Start at the title screen. The options screen will appear. Hold R and press Up + X, Right + A, Down + B, Left + Y. The cheat mode screen will appear allowing switching to a two player game, use of any fighter, and selecting the background music and graphics.

Unlimited continues:
Hold Select and press Start at the title screen. The options screen will appear. Hold L and press Up + X, Left + Y, Down + B, Right + A. A credit option screen will appear allowing selection of one, three, five, or an unlimited number of continues.