Smoke Choked

One of the main characters of Crimson Alive, formerly the antagonist of Genesis of The Heretic, the original installment of Crimson Alive.

By jade_midori

Does this count as a bootleg game character?  Maybe not, since Dingo Pictures made mockbuster films, but a bunch of them were packaged in video game form.

This Wabuu is a spriteswap of Toon Link by YochiThMaster333, spriteswapped by Clockwarkgate.

Uses voices from the original dub of Wabuu: The Cheeky Raccoon and Phelous's reviews of Dingo Pictures.

By Planeptune Arte

John Tenta was a Canadian professional wrestler and sumo wrestler in the WWF.  As Golga, he was a member of The Oddities and wore a mask that was supposed to hide a bone growth disorder yet made him look deformed anyway.  A fan of Eric Cartman, Golga's career in The Oddities lasted from 1998 to 1999.

His group won the following awards:

Worst Gimmick (1998)
Worst Tag Team (1998)

As for the M.U.G.E.N. character, he fights with earraping audio, Eric Cartman himself, and various other images.  A very weird character, just like the source material it's based on.

By Neville Hakurei

It's SSJ8 Goku, but the Sad Claps code is applied

By FRS GAMES, obliterated by Halis RTSD

Mongori, but he freaking clones himself.  Two to three clones by default.

By Gomi-Factory(made worse by TwistedSynapse)

From an Nickelodeon India show, Pakdam Pakdai.  Motu (or Marly, as he's referred to in the English dub) is a member of a Chuha Party, a group of three villainous mice.  The other two are named Chhotu/Charly (the leader) and Lambu/Larry.

Uses sprites based on sprites by Trowbridge27 ( https://www.deviantart.com/trowbridge27/art/M-U-G-E-N-Pakdam-Pakdai-751667568 ) and MVC gameplay

By n00b12

By Warusaki3, fixed by G.o.D.

The other best version of Super Saiyan 3 Goku

A Voiceroid character, using the moveset of Geese Howard

By riacorst

Quote from SSBKing 65

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Beako is a character based off of Backbeard, the big yokai from Gegege No Kitaro, being a little girl who is apparently his daughter attacking with various Backbeard related objects including her older sister Maman, little brother Beao and Backbeard himself teaming up to take out her enemies.

The Chris Hansen of M.U.G.E.N., been around since 2005.  One of the only Nijikaku characters that has custom A.I.

By the Nijikaku team

A not as well known stage by Andres Borghi

A rather crazy edit of Actarus's Axel Stone

By EasyChar, golpe super misil by Halis

By bakisimu

By Sans_UA & PinksheepX, originally by bakisimu

A pretty basic Street Fighter Alpha Ken

By Yong Ming & Jin Kazama

Here I come, rougher than Knuckles 
The best of them, tougher than Knuckles 
You can call me Knuckles, unlike Knuckles I don't chuckle 
I'd rather flex my Knuckles 
I'm hard as Knuckles, it ain't hard to chuckle 
I break 'em down whether they're Knuckles or Knuckles 
Unlike Knuckles I'm independent since my first chuckle 
First Knuckles, feel the Knuckles, than the Knuckle chuckle 

By Pizzasauce

A rather busted take on Haohmaru in Samurai Shodown 2

By NRF

The protagonist of Death Crimson, and a very infamous character in M.U.G.E.N.  This is the original version, not the edited version (Funny Echizen) I uploaded earlier.

Quoted from SaltyPedia:

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While being only visible in person in the source game exactly once, in a single pose, japanese Mugen creator NRF made him into a complete character out of the single image with amusing animations made in a cut-and-paste style technique.

By NRF

Quoted from SaltyPedia:

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The Cheap Boss Type is a perfect example of what happens when you take an overpowered, severely unbalanced, plain cheap fighting style, and combine it all into a single character.

Titled by his creator Pneophen as a "random experiment", he is an AI-controlled fighter using sprites from Tuff E Nuff's Jado who defines what a Cheap Boss is.

By Pneophen, edited by Txpot to be playable

A version of Kunio based on Shodai Nekketsu Kouha Kunio-Kun

By arukari

Image taken from Ryou's Kunio-Kun collection on Mugen Free For All

Purple Man, aka Purple Guy, aka William Afton, aka A.J., aka the Man Behind the Slaughter.

Uses Charlie's sprites and the DC Template as a base, with many crazy attacks at his disposal.

The only good Purple Man in M.U.G.E.N., sadly.

An edit of Sumireko Usami, based on Strange Klug from Puyo Puyo.  Fights using puyos like M3's Arle and Amitie, as well as various other attacks gained from hitting opponents with puyos.

By MarioCraft31

A 3D remake of EX Falchion's Ugandan Knuckles!  Complete with smooth 3D animations and plenty of new attacks!

By MarioCraft31