Not every event in Super Smash Bros. Ultimate slaps, but this one prominently features Party Phil, so it rules by default.
If you haven't heard of Party Phil, there's good reason for that: he was kind of sent off to die in the Wii Party series (along with Party Penny), which never really took off. This Ray Bolger Scarecrow-ass puppet is always ready to go and his entire goal in life is to just pump you up and show you a good time. Who doesn't love a joyous puppet that speaks gibberish? This dude should be way more famous.
So why is he relevant? Well Smash Ultimate's "Suit Up!" spirit event starts on May 17 and will feature dapper characters like Metal Gear Solid's Kaz Miller, Animal Crossing's Digby, and of course, Party Phil. Or, as Nintendo puts it: "Spirits wearing ties or bow ties bring a touch of class to the Spirit Board in this event. Defeat them in battle to earn extra snacks."
As a reminder you can use this tool to locate every spirit in the game.