Annoyed with the success of the Mario Kart series, a bunch of Rare characters got together and held a racing competition of their own. Along with the availability of several types of vehicles, this game has something of a storyline to it and full completion requires reloading a saved game after the credits run for the first time. More races occur after the initial credit roll, so don't stop watching once the ending plays.
Note: There are encodes of higher resolution in the discussion thread.