At the main menu screen hold down the L trigger and press A, X, Y, B, A, X, Y, B. You'll hear a sound if done correctly.

Use the following names for a created wrestler to turn on the associated cheat effect.

denicholas - invincible players
jche - player 1 is invincible
ddaniels - unlimited super moves for player 1
cbarlow - player 2 is invincible
jmaxwell - unlimited super moves for player 2
rtaylor - big head mode
okendall - big hand mode
tpiperi - big feet mode
tho - big evertything mode
jgintu - halo mode
pjefferies - ghost mode
ksimeonov - greyscale mode
ewilliams - wireframe mode
edma - first person camera
stomanovski - hardcore Al difficulty
pstapley - toon wrestlers mode
mbilodeau (alternate: mstapley) - toon background mode