Properly done, that would be extremely funny, but you should be able to choose between some commentators.
Mario: Welcome to the Team Battle match, with Luigi going up against Wario and Jigglypuff!
Captain Falcon: I really want Wario to win, mainly because Luigi's going to try and race me later!
Mario: Afraid you'll lose?
Captain Falcon: Yeah, right. Bring it, tubby!
... and so on.