To Unlock Cheats:
Start a career, and work your way all the way to the Championship. Once you've successfully defended your belt three or four times you'll get to unlock one cheat. You can only unlock one cheat at a time, which you get to choose. To unlock another cheat you'll have to play through the career mode and defend your belt all over again.

Where'd He Go?:
Choose the teleportation cheat (to use it use your special and press R1). Smack your opponent a couple times then teleport around for the rest of the round for the cheapest win ever.

Thanks to Revolution readers Eric Sewell and Taunt Leonie!