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8 Lives, 255 of all items, Prevent Life Loss, and Play the Demo Stage
At the title screen, opt to go to Level 101 and start a new game. Kill yourself twice (A+B, Player 1) and reset the console. Repeat this, but kill yourself three times, and don't reset the console; just press a button to return to the title screen. If done properly, the menu text is now pink. If you hold A and B on Player 2's controller at the title screen and start a new game, you will start with 8 lives, 255 ladders, 255 ropes, 255 stones, and 255 bombs. Additionally, if committing suicide, hold A or B on Player 2's controller to prevent life loss. Note that you cannot get high scores using this. Additionally, you cannot see the ending normally. (At Stage 105's completion screen, hold Up on Player 2's controller.) Finally, you can also play the demo stage by holding A and B on Player 1's and Player 2's controllers before the demon starts, but at the title screen.