Bare Knuckle III Cheats

Go to the options screen and select the ''Lives'' option. Press and hold UP + (A) + (B) + (C) on Controller 2, and press LEFT or RIGHT on Controller 1 to select the number of lives you can start the game with. You will now be able to select 9 lives, past the default max of 5.

At the title screen, hold Up and B, then press Start. A kangaroo named Roo will now be available at the character select screen.

After beating Shiva in the first stage when you get the last hit, press B+Start and hold it. When the continue screen comes up you'll be able to play as Shiva.
WARNING: He is weaker than his Streets of Rage 2 character.

To select Ash, defeat him, then hold A on Controller 1. After losing all of your lives, you select to continue and you can choose Ash as your character.

Press C to select a player, then quickly hold A and sweep the D-pad in a clockwise circle until Axel appears. Then press A.

Note: This cheat is very hard to get working.

Hold Down+C on controller 2 as you enter 2 PLAYER mode with controller 1.