Well, a friend and I succeeded in creating a variant of the fabled Black Hole glitch in Super Smash Bros. Melee, as you will see in the screenshot.

Unfortunately, the game hanged and I couldn't get any more pictures, but I'm sure one image is proof enough.

How to create a Black Hole in Super Smash Bros. Melee (Double Ness/Flipper Method - Requires Action Replay MAX or equivalent):

You will need the "Super Ness" code active. Debug Mode helps too.

I used Debug Mode with Debug Level set to Debug, but it takes less time to do if you set Debug Level to Develop OR go to training. Items must be on.

1. Set the stage to Final Destination. Set both characters to Ness.

2. Wait for (or spawn) a flipper. Throw the flipper at the center of the stage.

3. Spam PK Fire at the flipper (this is why the Super Ness code is required - PK Fire would otherwise burn out before the second shot would hit). Don't use it too much or your game will hang like it did with me.

4. (optional) Jump in and take 999% damage - if the game didn't hang or crash that is.

5. Have fun and try to find other ways to cause this glitch!