Palette Swap (Super Smash Bros.)

In Super Smash Bros., each character had at least four costumes, one for each of the costume-changing C buttons. Some characters had an extra costume (or two) to accomodate for Team Battles if their four costumes lacked a red, blue, or green variation; these costumes cannot be selected outside of Team Battle since there are only four C buttons.

Captain Falcon

 * Purple (default)
 * Black: Resembles Captain Falcon in the Japanese commercial for F-Zero X.
 * Red: Based on the appearance of his rival, Blood Falcon.
 * White: The same colors as Jody Summers's outfit.
 * Green*: The same colors as Pico's outfit.
 * Blue*: An alternate, brighter version of his standard colors.

Donkey Kong

 * Brown (default)
 * Black
 * Red: Possibly based on his sprite in the original Donkey Kong.
 * Blue
 * Green*: The only Donkey Kong costume to date to change his face colour.

Fox

 * White (default)
 * Red: Fox's Star Fox outfit on the Japanese box art.
 * Blue
 * Green: similar to his father James McCloud's outfit.

Jigglypuff

 * Pink (default)
 * Red
 * Blue
 * Green

Kirby

 * Pink (default)
 * Yellow: The same as Keeby. It is also similar to his colors scheme when he is Beam Kirby, sans the hat.
 * Red: The same as when he is Fire Kirby, sans the hat. Also, this is Kirby's only color change in the original that is not in the multiplayer mode in Kirby 64.
 * Blue: The same as when he is Ice Kirby, sans the hat.
 * Green:* Homage to the days when Kirby was on the Game Boy screen, which was green.

Link

 * Green (default)
 * Red: Based off the Goron Tunic from The Legend of Zelda: Ocarina of Time.
 * Blue: Based off the Zora Tunic from The Legend of Zelda: Ocarina of Time.
 * Light Purple: Based off the Blue Ring Tunic from the original The Legend of Zelda.

Luigi

 * Green (default)
 * White: Based off Luigi's appearance in Super Mario Bros.
 * Blue
 * Red: Luigi's Wrecking Crew costume, in which Luigi wears pink.

Mario

 * Red (default)
 * Yellow: Based on the yellow-and-purple outfit of his rival, Wario.
 * Brown: A reference to Foreman Spike from Wrecking Crew.
 * Blue: A red/blue reversal of his traditional colors. This is seen as a partial reference to Mario's varying appearances in games prior to Nintendo's officially establishment of Mario's outfit of consisting of a red shirt, blue overalls and red hat. In various earlier games, Mario occasionally also appeared with sometimes a blue hat, red shirt with blue overalls or a red hat, blue shirt with red overalls. However, this particular combination of a blue hat, blue shirt, with red overalls was never used in any Mario game, but it does resemble the appearance of the Balloon Fighter.
 * Green:* The color inverse of his traditional colors. Contrary to popular belief it is not a reference to Luigi. However, it does coincidentally resemble Luigi's colors from the arcade version of Mario Bros box art.

Ness

 * Red (default)
 * Yellow
 * Blue: It is possible his blue costume came from the Devil Machine's eye for the color of Ness's hat.
 * Green

Pikachu

 * Yellow (default)
 * Red
 * Blue
 * Green

Samus Aran

 * Orange (default)
 * Pink: Based off the appearance of the Varia Suit when missiles are selected in the original NES Metroid game.
 * Black
 * Green:
 * Blue*: Based off of the Gravity Suit.

Yoshi
All of Yoshi's costumes are the different variations of the Yoshi species from the various Yoshi games including:
 * Green (default)
 * Red
 * Light Blue
 * Yellow
 * Pink**
 * Blue**

* Available through Team Battles only. ** Color is exclusive to CPU opponents in Single Player mode.