At the beginning of the game go to Options and select Weapon Options.
Press Square and X simultaneously 10 times and you should receive certain weapons that you can only get during a weapons drop (unlimited Minigun, Banana Bomb, and sheep).
Start a fire punch, quickly hold Square press R1, L1, Circle. Then, a boxing match featuring one worm from each team will begin. Now defeat your opponent using just punches and dragonballs. The normal game will resume after one worm is defeated.
One hit point worms:
Set the move timer and round time to unlimited. At the Weapon Options screen, press X+Square eight times. Now while playing a game, pause and select Extra Time. All worms will be reduced to one hit point.
Infinite banana bombs:
At the Weapon Options screen, press Down, Right, X, Square, Square, X, Square, Square, X, Square, Square.
LevelPassword HellHades/666 WoodsForest CandylandCandy JunkyardJunk MartianMars AlienAlien PolarArtic
Thanks to Revolution readers Funkypoem, Andy Russell, Wormer, Sam Maunders, and Billy Meyers!!