On Mugen, how do I change the characters' names into a fancy words?

Something went like this:



change into



But, I really need your help, how can I change characters' names into a fancy words?

The "Kung Fu Man" name is made of MUGEN fonts.  You can find it in your MUGEN1.0\font\name14.sff (and MUGEN1.0\font\name14.def).

Just make your own fonts and replace the MUGEN1.0 default one using Fighter Factory:

in case imgur not working for you....:

You may also want to read about how MUGEN fonts work, please see your MUGEN1.0\docs\fonts.html

Well; the "fancy words" is the part of the Dc Vs Marvel portraits. But i like this idea though.

Okay, what's the step? Step 1, step 2 and step 3 for replacing the font...

If you for BlueSpider's suggested portrait way, then all you need is to edit your MUGEN character big portrait (usually the sprite number 9000,1 one):

in case imgur not working for you....:

It shall not be that hard to put the text image into another image like this........ 

If you go for my suggested font changeing way, then do these steps:
1) find and download some fancy fonts in common image formats like bitmap BMP you want to use in the great sea of the Internet,
2) use your favorite image editor to clean/re-color/resize the fonts, i.e. the letter K, and save it in either PCX or PNG image format,
3) open your MUGEN1.0\font\name14.sff with your Fighter Factory,
4) search for the font i.e. the letter K, then replace it by your custom-made font K PCX/PNG,
5) you might need to edit some values in some lines in your MUGEN1.0\font\name14.def,
6) profit!

Please note that portrait-editing way is for one (1) particular MUGEN character only, while the font-editing way can be for the whole MUGEN motif/screen pack.