The green Donkey Kong puppet fighter represents Jack-7, a burly, humanoid robot who features a green glow and is mass-produced in the Tekken series.
The stage represents Hon-Maru, a pagoda stage in the Tekken series which is attacked by an army of Jack-4's during the opening cutscene of Tekken 5.
The first battle condition references how the Jacks are powerful android fighters who feature high endurance stats and low speed stats.
Donkey Kong's favored Giant Punch references the Gigaton Punch, a move shared by the Jack robot series where they wind their fists up and deliver a powerful punch attack.
Other trivia:
This spirit's Fist Attack ↑ ability references the Jack series' usage of powerful punch attacks, including their signature Gigaton Punch.