I think there's only one logical choice for choosing the next Nintendo character to be integrated into the new Super Smash Bros.... And that character is, of course, Tim "The Toolman" Taylor, from the SNES game "Home Improvement".

Ohhhhhhh yeeeeeaaaaaahhhhh. His logo would probably be a variation of this house.

Taunts: Tim poses (much like in the above picture) and says one of the following colorful catchphrases:
"ARROOOOOooOOOooOO??!"
That weird grunting thing he always does on the show.
"MORE POWER!!"
"It's Tool Time
, bitch."

Standard?: The nailgun. The nails don't shoot straight ahead for some reason; they kinda fly off in different directions. I don't know what that's about. Rumor has it, though, that there's a blowtorch/flamethrower weapon in the SNES game, although I've yet to see it.

Side Standard?: Apparently, the game features some sort of magical chainsaw that shoot magical laser beams. That would rule, but I can't find a picture of it.

In it's place, there's this hammer thing. It has decent reach and strength, but it's not as good as Dedede's.

Down Attack: The jackhammer. If Tim's in the air and you use this attack, he'll come hurtling down to the ground, jackhammering all in his path.

This thing is for grabbing onto ledges, or grabbing onto other characters to initiate throws (like Scorpion's "GET OVER HERE" thing).
Are you ready for this? Because it's time for the Tool Man's FINAL SMASH:
Once Tim gets the Smash Ball, he faces the player (you) and shouts, "WHAT TIME IS IT?!" to which the generic audience voice replies, "IT'S TOOL TIME!". Out of nowhere, this crazy ass contraption shows up (imagine a riding lawnmower with deadly saw blades and rocket launchers and a jet engine). Tim jumps on, shouts "MORE POWER!!!" and rides the contraption across the stage, demolishing all in his path. Tim also takes a small amount of damage after using his final smash (Tim's contraptions always backfire).

Tim's Stage: The set of Home Improvement. It would be a small stage, kind of like Green Hill or the Bridge, where you can't go too far on either side. There would be random machinery exploding and haywire power tools throughout.

ASSIST TROPHY: AL BORLAND
Sadly, the only thing I can think of is Al popping out and saying, "I DON'T THINK SO, TIM." (regardless of whether or not Tim is on the stage). Maybe he can render all items worthless for a few seconds? Or maybe he can pull a Nintendogs and cover up the screen with plaid. I don't know.