Notes:

I made another. This is my first one. This idea was sparked from a conversation in the comments with Asgore Dreemurr.

New spirit details:
Translucent characters: clear
Assist Trophy Characters: Assist Trophy Enemies
Chain character guide:
The Root Pack: Mega Man→Jigglypuff→Mewtwo
Goopy Le Grande: Kirby→Giant Kirby
Ribby and Croaks: Ryu<-->Ken
Baroness Von Bon Bon: Pac-Man→Bowser→Dedede→Daisy
Grim Matchstick: Ridley<-->Bowser<-->Charizard
Werner Werman: Morton→Big Incineroar
Phantom Express: Toon Link<-->Joker
King Dice: see not within picture (also, Sheik<-->Wario<-->Mario)
note: <--> indicates a simultaneous battle.

In the end, these have been fun to do and the result leaves me satisfied. Might do more if I think of any.