Press (C-Left) or (C-Right) at the player selection screen. Press (Start) on controller one while choosing a character.
Complete DOA in league challenge mode.
Complete IU in league challenge mode.
Complete WCW in league challenge mode.
Complete NWO in league challenge mode.
After completing DOA, IU, WCW, and NOW in league challenge mode, select the new "Whole World Wrestling" option. Complete the Heavyweight and Cruiserweight classes, to face Joe Bruiser and Black Widow. Both will be selectable characters after they are defeated.
Use the Analog-stick at the character selection screen to move the character and adjust the zoom.
When your opponent does a weak or strong attack (such as by pressing (B)), press [Right] when he hits your character to automatically reverse the move.