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Smash the Octopus was created on 2003-09-11.
To kill it you bite, stab or smash its brain between the eyes, immediately killing it. The octopus skin then turns white when its dead.
It is what gives a fighter their final smash.
In a way, Super Smash Bros. 2 can be Super Smash Bros. for Nintendo 3DS/Super Smash Bros. for Wii U.
Super Smash 2 is already out and is called Super Smash Bros. Melee, for Gamecube.