Tons of Lives!!!
All you have to do is go to world 1 level 4 and if you jump in the right place at the beggining of the level a box will appear and out of the box will come a 1up, once you find this, KILL your character, after repeating this process ~5 times a white racoon hat(assist box) will apear, again get the 1up and then instead of killing yourself, play the level(PS. Your Invincible) you should a couple lives through the level and if you run and fly at the flagpole to get to the top and you will get another 1up, etc... Do this again and again until you have the desired amount of lives.
Added by: Super Screech 64 Sep 17th 2012, ID#440