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Alternate costumes: 
Press Start and any action button to rotate the select screen pictures two times to enable each character's second costume, except for Sonya and Tanya. 
The select screen pictures must be rotated three times for those characters. 

Fight as Meat: Enter "Group Mode" and successfully complete the game with all sixteen characters. After this has been accomplished, select any character and begin a match. Your character will playing as Meat with all the moves of the character that was selected. 

Fight as Goro: Successfully complete the game with Shinnok. Enter the character selection screen, choose the HIDDEN icon using RUN, and keep holding it, then press UP, UP, UP , LEFT to highlight Shinnok's icon, and press BLOCK while still holding RUN.  

Fight as Noob Saibot: Successfully complete the game with Reiko. Enter the 012 012 Kombat code in versus mode. Exit this match and enter the character selection screen, choose the HIDDEN icon using RUN, and keep holding it, then press UP, UP,LEFT to highlight Reiko's icon, and press BLOCK while still holding RUN. 

Single player stage select: Enter the "Practice" menu and select the stage that appears prior to the desired stage that you wish to start at. Start a practice mode match, then immediately quit.Start a single player game to begin at the desired stage. 

Kombat Kodes: Enter one of the following codes to activate the corresponding effect. 

Kode #1: 111-111 "Free Weapon"  
One weapon drops onto the center at the beginning of the match. 

Kode #2: 100-100 "Throwing Disabled"  
No throws or bone-breakers. 

Kode #3: 444-444 "Armed and Dangerous"  
Start off with your weapons drawn. 

Kode #4: 666-666 "Silent Kombat"  
No background music. 

Kode #5: 050-050 "Explosive Kombat" 
Last hit causes loser to explode. 

Kode #6: 222-222 "Random Weapons" 
Start with another weapon at random, rather than default.  

Kode #7: 123-123 "No Power ??" 
Start off with just a bit of energy above "DANGER" level. 

Kode #8: 555-555 "Many Weapons" 
Weapons drop all over the stage. 

Kode #9: 333-333 "Randper Kombat" 
No longer works in the home versions. 

Kode #10: 060-060 "No Rain"  
No rain on the Wind World stage. 

Kode #11: 002-002 "Weapon Kombat" 
Both players never drop their weapons. 

Kode #12: ???-??? " 
4 Player Randper Illegal" ???  

Kode #13: 012-012 "Noob Saibot Mode"  
Used for the process of playing as Noob Saibot in the PSX.  

Kode #14: 020-020 "Red Rain"  
Causes it to rain blood at the "Wind World" stage.  

Kode #15: 010-010 "Maximum Damage Disabled" 
No Maximum Damage limit for Combos.  

Kode #16: 110-110 "Throwing and Max Damage Disabled" 
No Throws and Maximum Damage Combo Limit.  

Kode #17: 011-011 "Kombat Zone: Goro's Lair"  
Play at "Goro's Lair" Stage.  

Kode #18: 022-022 "Kombat Zone: The Well"  
Play at "The Well" Stage.  

Kode #19: 033-033 "Kombat Zone: Elder Gods"  
Play at "The Elder Gods" Stage.  

Kode #20: 044-044 "Kombat Zone: The Tomb"  
Play at "The Tomb" Stage.  

Kode #21: 055-055 "Kombat Zone: Wind World" Play at  
"Wind World" Stage.  

Kode #22: 066-066 "Kombat Zone: Reptile's Lair"  
Play at "Reptile's Lair" Stage.  

Kode #23: 101-101 "Kombat Zone: Shaolin Temple"  
Play at "Shaolin Temple" Stage.  

Kode #24: 202-202 "Kombat Zone: Living Forest"  
Play at "Living Forest" Stage.  

Kode #25: 303-303 "Kombat Zone: The Prison"  
Play at "The Prison" Stage.  

Kode #26: 001-001 "Unlimited Run" 
Get an unlimited Run meter.  

Kode #27: 313-313 "Kombat Zone: Ice Pit" 
Play at "Ice Pit" Stage.  

Kode #xx: 321-321 Big Head Mode 
(No actual on-screen text) The characters have over-sized heads.  
 

 
Cheats
To choose the ? butten in press BLK+RUN for 5 Seconds or until you hear boom