I am not counting Assist Trophy's. I know they are technically items, but comon. If they were counted, you already know they'd be in first place! I'm also not counting Smash Balls (as they are pretty imbalanced), and The Dragoon (it's in pieces). I'm not also counting food items, healing items (because all healing items are awesome), creates/party balls/barrels, or odd little character items. (Like pieces of Samus' suit, or Diddy Kong's bananas, or Link's bombs.)
10
The Red Shell. It was first introduced in Super Smash Brothers (from the Mario series of course). This little bitch is the cousin to the Green Shell. When the Green Shell is thrown, it lands, goes to the ground, and spins off to it's own doom off a ledge. The Red Shell spins...then doesn't fall off, and continues to bounce back and forth unlike it disappears. It's pretty nifty (for you) to throw down like 3 of them and the opponent can't land on the ground. Of course, when the tables are turned, it isn't so hot. It's a simple, sneaky, item. You're so busy trying to fighting, then "Aw fuck! *goes flying into background*" because a little red shell hit you. Unfortunately, it was not featured in Brawl outside of the Subspace Missionary mode. Which sucks, why couldn't we have it as a normal item?
9
The Beam Sword, introduced in Super Smash Brothers (from Super Smash Brothers). It's a blant rip-off of the Lightsaber. Which, isn't a bad thing. It's a cool item. It's got a nice, long range, comes in 2 fashionable colors, and make a nice sound when swung. It feel even better when you're playing as Link or Metaknight, and you have TWO swords! Oh snap, your enemy is screwed now! They can even knock away those pesky Red Shells if you do a smash move with them. In retrospect, it doesn't do anything too special compared to the others "pick up and smack" items. But it still makes you damned cool to have.
8
Bomb-ombs, first seen in Super Smash Brothers (Mario series again). I don't believe the above picture is from a Mario game. I was having trouble finding a picture, and that one kept popping up. If you happen to know the original artist, let me know. Anyway, Bomb-ombs, yep. These things fall from the sky, then quietly sit there. If you don't pick them up, they stand up, and walk around and explode. You're just minding your own business then one of these guys runs up and blasts you. If you pick them up before they walk, you can toss them and they'll explode in your enemy's face. If you hold them too long, they explode in your hands. Very dangerous item, but very awesome. I mean, a walking bomb on legs? Genius!
7
The Lightning Bolt from Super Smash Brothers Brawl (originally from Mario Kart). Unlike most items, this one activates when you touch it. Lightning comes from the sky, and instead of frying your face, it will shrink your enemies (and sometimes backfire...shrinking you instead) It's a clever little item. You have to do your best to run to it first. But then again, being small isn't always a bad thing. Just don't get knocked off. I mean it's probably odd seeing this on the list, but it's just a cool thought. Being tiny is awesome too. Who said you have to be big and tall to win?
6
The Bunny Hood mask from Super Smash Brothers Melee (Zelda series). From all the masks they could've picked from, they went with this one. Awesome, yet interesting, choice. Picking it up lets the user run and jump faster and farther. It doesn't last forever, it has a time limit before it vanishes. It's extremely fun to use, and it give you a certain advantage. Like being able to outrun hazards, or jump higher to avoid attacks. Just...don't wear it as Sonic. You'll create a black hole in your Wii.
5
Lip's Stick from Super Smash Brothers Melee (...from...Panel de Pon, Japan only game) In reality, this item does even less than the Beam Sword, but I said awesome items. It's bad to be hit in the face with a flower. It's worse to have a flower grow out of your head. When you smack a bitch with Lip's Stick, the enemy slowly grows a flower out of their head. The more you attack them, the bigger it grows, and the more damage you do. The flower on the enemy's head can be gotten rid of by doing smash moves or dashing. So you beat the crap out of your opponets, and humiliate them and make them into your little garden! The perfect plot...
4
The Screwattack from Super Smash Brothers (Metroid series). In the Metroid games, the Screwattack was like...the best fucking thing in the universe. In fact...it would be the best fucking thing in the universe if it's exact powers were in every game. But things have to change so they will be balanced. In Super Smash Brothers, you pick it up, and when you jump, you go into the spinning (Samus' Up+B attack) jump/attack. When it's thrown, it does a Screwattack by itself to hit the enemy. In Brawl, it actually connects to you, so it stays a lot longer, but still can be thrown. It's an amazing item. Samus is badass by herself anyway, so it's no wonder all the other characters want to be her.
3
The Hammer/Golden Hammer from Super Smash Brothers (originally came from Donkey Kong) In the original game, holy mother of god. This thing was the scariest fuck ever. EVERYONE would die if they touched you while your flailing away. When picked up, the players goes on a frenzy. The characters whacks over and over and over. You can only jump once, and move left and right. In Melee, they realized how overpowered it was, and tried to tone it down. Now, sometimes the head will flail off when it's picked up. It's also easier to hit a character who is in the frenzy to stop them. Brawl introduced the Golden Hammer. It does a whole lot more damage, but it can also backfire. Instead of the head falling off, it squeaks and no damage. It's still deadly, but not as "OMFG." I find it funny how the computer will run from you when you pick up the hammer. They know they're screwed.
2
The Home-run Bat from Super Smash Brothers (original item, made just for the series) I'm pretty sure you know why it's second place. But for those who don't, I'll explain. It's another smacking item like the Lip's Stick and the Beam Sword. It's short ranged, attacks a little fast. Not too special unless you use it's smash attack. Your character lights up, they go into a stance, and then VROOM. You're enemy goes FLYING off and dies. Using a smash move while holding the Home-run Bat is a 1 hit K.O kill. However, it is slow to use. You have to be very sneaky about this. Skilled players can just fucking murder everything with this. Time it right, and your in. It even got it's own little mini-game. You have to do "omfg" smash attack against a sandbag, and send it flying. It doesn't really reward you, but it's fun challenging yourself to see how far you can send it.
1
The Pokeballs from Super Smash Brothers (Pokemon series). These were Assist Trophys before the idea was even conceived. Throwing these unleashed a Pokemon to temporarily fight by your side. They can range from kick assers like Hitmonlee to Venasaur, to useless piles of crap like Goldeen or Magikarp. The Pokemon inside change every game, but the rush to the Pokeball is always there. The Pokeball itself can even hurt enemies when you throw it at them, then it lands, then oh fuck, Blastoise! So then they get raped even harder. Then they had to introduce Assist Trophys, which hasn't belittled Pokeballs any. The rush to beat the other players to them is still there.
