(Note: This trick only works on the Japanese version.)
When you fight Bowser for the first time, keep avoiding him and collect the coins from Bowser's flames. After collecting 1,000 coins, an M will appear next to your lives. Now when you lose a life, your lives go up, and when you gain a life, your lives go down.
Warning: If you have 120 stars, DON'T talk to Yoshi or he will take your M away.
After beating the 3rd Bowser, plug a controller into port 2. Use the analog control stick to maneuver the camera during the ending sequence.
After getting 120 stars, find the cannon that's outside the castle and shoot to the top of the castle. You will find Yoshi walking around. Talk to him and he will give you 100 lives and a new Triple Jump.
Go to Snowman's Land (Course 10) and go to the big snowman. Get your hat blown off and when you land, don't pick up your hat! Go to the tree in the lower-right corner of the course and use the warp there. Warp 3 times and then go back to your hat. Mario will wear the first and second hats, then carry the 3rd one in his hand! You can use your hat as a weapon.
Warning: When Mario has the hat in his hand, Mario will lose more damage than usual. To put the hat back on, take the warp or get a star.
Snowman's Land isn't the only place to carry your hat! Go to Shifting Sand Land (Course 8) and go to where the Pink Bob-omb is, let the bird take your hat. Hit the bird, but don't get the hat. Go under the Palm Tree and use the warp. Warp 3 times then go get your hat. Again, Mario will pick up the first 2 caps and hold the 3rd one and use it as a weapon.
Warning: When Mario has the hat in his hand, Mario will lose more damage than usual. To put the hat back on, take the warp or get a star.
After getting 120 stars and talking to Yoshi, a couple changes will happen in the game:
Here's an easier way to catch the bunny in the basement. Chase him to one of the two dead ends where he goes (the entrance to the desert level and the place where the Mushroom man is) and run at him. Watch the exact route he takes to get away. Then, chase him back to the same place. This time, stand in the spot where he runs to and walk slowly towards him. He'll run straight at you, if you get it perfect he'll bump right into you. Just punch and you'll pick him up. This works in either dead end, but you have to be pretty accurate, but it is still much easier than diving at him.
Koopa the quick may be fast, but you can leave him behind in the blink of an eye. In fact, you can make him disappear altogether. You'll need to get the wing cap to perform this stunt, so when you enter Bob-omb Battlefield, run over to the wing cap block, get the cap, then return to the area where Koopa the Quick is waiting. Starting from just in front of the cannon hole on the stone platform, perform a triple jump in order to launch Mario into the air. The point at which you launch into the air is the critical part of this trick. Fly for a short distance, then land, you'll receive the regular message from Koopa the Quick. If you accept you'll hear the race music, but Koopa the Quick will never show up.
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