This was unveiled yesterday all over the Internet as a Wii Virtual Console promo, but confirmed to be a fake. It's still nice, though, to see how many obscure characters and items you can name.
There's Willy from Rockin' Kats, the Rainbow Islands guys, the car from Outrun, the sign from Pac-Land, Pengo, Master Higgins and Wonder Boy trying to reach an egg with an axe - an inside joke to the fact that their first games are alike, there's Mappy, Pengo, ROB, Protoman, Roll, Clyde, Bub, Morton Koopa, the Snow Bros., a Moai, Kid Dracula, Kirby as (assumedly) Simon Belmont, Ebisumaru, Sonson, Bubbles, Solar Fox (I think), Princess Tomato, that kiwi guy from Kiwi Kraze/New Zealand Story, TwinBee, Rick from Splatterhouse, the Burgertime chef, Princess Toadstool's letter, a fish-ship from one of the Darius games, and more...