There are several new references to Balloon Fight in this entry. In the Summit stage themed around the NES game Ice Climber, the top of the mountain will eventually slide down into a lake. If players stay in or near the water for too long in this stage, the Balloon Fish will jump up and eat them. The Summit stage also has a remix of the Balloon Trip theme as an option for background music.
Although there is no Balloon Fight themed trophies in the game, there are two stickers taken from the Japanese box art of Balloon Fight. One is of the Balloon Fighter, and the other is of a Balloon Bird, though the latter is named "Balloon Fight Enemy" in-game. The Balloon Fighter sticker can only be applied to the fighter Pit from Kid Icarus, and increases weapon attack power by 4. The Balloon Fight Enemy sticker can only be applied to the Ice Climbers, and increases indirect special attack power by 4.
This game is also the only game to include the Chronicle, which is a large list of games released by Nintendo alongside their release date. Some Balloon Fight games appear on this list, but some are omitted.
- Balloon Fight (NES)
- US release date: 06/1986
- EU release date: 1987
- JP release date: 1985/01/22
- Balloon Kid
- US release date: 10/1990
- EU release date: 1991
- Balloon Fighter
- Balloon Fight Enemy
- This is the only Super Smash Bros. game to include a Balloon Bird.
- The chronicle omits both the Balloon Fight Game & Watch and Balloon Fight GB. The former may be because it was absent from the original Japanese list since it only released outside of Japan, though it's unknown why Balloon Fight GB was not included.
- The Balloon Fish appearing on the Ice Climber themed Summit stage may be because the Balloon Fighter was briefly considered as a fighter in Super Smash Bros. Melee, though the Ice Climbers were chosen instead.