During the Battle Arena 4-player arcade mode, there will be various power-ups placed across the map. There are six in total:
Cat (which makes you giant)
Fire (which lets you shoot fireballs)
Dragon (which lets you use the Skyward Dragon move on another player)
Storm (which lets you move faster and jump higher)
Ice (which fogs up everyone else's screens)
Music (which makes anyone who gets near you stop moving and start dancing)
When you pick one of these up, press
to use it, otherwise it'll be gone once you pick up another one. Matches are five minutes each, which should give you plenty of time to find and use one of each. They all spawn in random spots, so just keep an eye out, and the achievement should be yours. If I got something wrong or you have anything to add, leave a comment and I'll edit.