Start a versus match in multiplayer with a second controller. If you don't have a second controller, start a private match with a friend.
Each arena contains environmental objects that can be interacted with. Press the interact button when you're near one to use it. (RB by default)
The easiest stage to do this on is Ferris Aircraft because there are no stage transitions to worry about. There are 7 objects you need to use.
Far Left: Hanging jet engine (Jump to reach it)
Mid-left: Big red toolbox
Middle: Hanging Missile (Jump to reach it)
Mid-right: 3 gas canisters (Be sure to use all 3)
Far right: Rocket button
Finish and the match to unlock the achievement.
Extra note: I tried to do this on Atlantis because there's only one stage transition there as well, but couldn't get the achievement to unlock there. I tried both Gadget and Power type characters to no avail.