For reference, this is Boyacky:

Making another character that looks or acts similar to someone from Yatterman probably would have been a case of "pushing their luck" to see how far they can go before being sued.

According to a former Camelot dev the reason why she was ultimately scrapped was due to concerns she might be too similar to Doronjo from Yatterman/Time Bokan. I can only assume had she been made a proper character she might have had Wario and Waluigi be her henchmen in a fashion similar to Boyacky (whom Waluigi already looks pretty similar to) and Tonzura.