Play as Secret Characters
Even though they do not appear on the VS screen, it is possible to fight as Non Non the bear or Sebastian the clown in Exhibition mode. Move over to Black Belt Demon on the VS screen and press "A" as you hold the "Left Trigger" down to play as Non Non. To fight as Sebastian, move onto Mistress, hold down the "Left Trigger" and press the "A" button.
Bonus Matches and New Characters
Once you've won the championship with seven different characters, two or three bonus matches are unlocked. The number depends on whether the sixth belt holder is a Face or Heel character. If she was a Face, there are two bonus matches, whereas Heels get three. Go to Arena mode and defeat Lady X in her bonus match to unlock her. Defeat Lady X and Dr. Anesthesia with only one fighter in a bonus match to unlock Lady X Subsistence.
Unlock Alter Egos
Win the Championship with the Face character whose alter ego you would like to unlock; this character is fighter A. Beat fighter A in a Championship match with another character, fighter B, to take the title. A rematch is then played between you, fighter B, and fighter A; win this fight to unlock fighter A's alter ego. This technique works for any Face character except Yasha, Becky and Noble Rose.
Other Cheats
Choose a character and select Photo Shoot mode from the Locker Room. Repeat this step with all of the remaining characters in the game. A maid costume will now be available for any character; find it in the Shop screen in the Edit Costume category.
Press "A" as you hold down "Left Trigger" in the VS screen of a one- or two-player match; the fight will start but with a twist. The ring entrances of the two fighters will have swapped over, so fighter A will enter the ring in the style of fighter B, and vice versa.