Nintendo has been holding a poll to see what characters fans want to see added to Super Smash Bros. for Wii U and for 3DS next, and Banjo from old-school Nintendo 64 platformer Banjo-Kazooie has been a popular choice from fans. The only problem is that Banjo-Kazooie was developed by Rare, and Rare was bought by Microsoft years ago. A fan brought the issue up with Microsoft’s Xbox boss Phil Spencer on Twitter, and Spencer responded favorably.
@PedroDarkinson I think it would be cool if Banjo was in the next SSB DLC. We've worked with Nintendo on Rare IP before, no issues.
— Phil Spencer (@XboxP3) April 3, 2015
Obviously, this doesn’t necessarily mean that Banjo will actually make it into Super Smash Bros., but it does confirm that it’s totally possible; it would just require Nintendo and Microsoft to work together to do something that entirely benefits one console. The cynical side of me assumes that kills it right there, that Microsoft has little to no reason to work with Nintendo, and Nintendo would never kowtow to Microsoft just to pen a deal for an old character with limited cache with many of today’s players, but the optimistic side of me hopes they’ll just do it anyway because c’mon how cool would that be?