The Teams:
Team 1:
Hermione
Luke Skywalker
Dark Link
The Prince
Taki
Diagla
Cynaquil
Toadette
Dark Samus
Pinky
Peppy Hare
Gabranth
Darth Vader
Wario
Will
Mario
Kikyo
Mega Man
Team 2:
Robin
Edge
Bulbasaur
Shadow
Tepig
Terra [FF6]
L
Tabuu
Squirtle
Halt
Demyx
Midna
Aerith
Ridley
The Emperor
Mr. Resetii
Tingle
N
Team 3:
Ventus
Princess Leia
Will Turner
Spider Man
Emerald
Male Kid
King of Red Lions
Vaan
Krystal
Lara Croft
Tron
Leon S. Kennedy
Vincent
Diamond
Cecil
Pinkie
Blaze
Agatha
Team 4:
Xehanort
Raven
Captain Falcon
Dr. Eggman
Voldo
Zelda
Cloud of Darkness
Snivy
Ryoga
Dr. Mario
Tidus
Petey Piranha
Jecht
Otto
Knuckles
Balthier
Bartz
Inuyasha
Team 5:
Magus
Gandalf
Rydia
Davy Jones
Mudkip
Twilight
Bowser Jr.
Kirby
Maxwell
King Boo
Totadile
Groudon
Dr. Wily
Elite4Lance
Luigia
Daisy
Ezio
Ness
Team 6:
Slippy Toad
Rare
Rainbow
Diabolus
Lucca
Meta Knight
Solid Snake
Cosmos
Sho
Warrior of Light
Pac Man
Ezlo
Silver
Kraid
Hades
Sackboy
Wallace
Pikachu
Team 7:
Bowser
Indy
Chaos
Sango
Blooper
Doom
Andross
Laura
Pit
Master Hand
Firion
Raymond
King Hippo
Cloud Strife
Black Knight
Night Terror
Crazy Hand
Green
Team 8:
Genesis
Batman
Sephiroth
Diddy Kong
Link and Epona
Sesshomaru
Super Man
Kain
Samus
Chrono
EBA
Auron
Ron
Luigi
Roxas
Goron
Harry
Cid
Team 9:
Navi
Ike
Olimar
Blinky
Steven
Female Kid
SA-X
Dr. Egon
Blue
Shampoo
Nightmare
Kronos
Sapphire
Yoda
Issun
Xion
Chibi-Robo
Winston
Team 10:
Hulk
Lucas
White
Lief
Wolf
MCP
Sonic
Piplup
King Dedede
Silver H.
Marth
Lorelei
Sora
Altair
Stormtrooper
Barda
Golbez
Ayla
Team 11:
Ivy
Tom Nook
Gold
Akane
Ember
Raphael
Moneybags
Racquet
Omega
Zidane
Squall
Cynthia
Jack Sparrow
Clank
Palkia
Waluigi
Alien
Cyrus
Team 12:
Vaati
Garland
Larxene
Shadow Lord
Tetra
Snape
Spyro
Chuck Norris
E. Gadd
Kaira
Oshawott
Wakka
R2-D2
Voldemort
Percy
Iron Man
Rayquaza
Super Girl
Team 13:
Boba Fett
Koopalings
Zack Fair
Fawful
Rosa
Shippo
Chiron
Proton
Riku
Ganondorf
Wonder Woman
Beat
Flutter
Green Lantern
Ryuk
Tails
Elizabeth
Reshiram
Team 14:
Kagome
Red
Black
Sakuya
Flora
General Grievous
Ho-oh
Dr. Light
Two Face
Wing
Rayman
Rikku
Ruby
Rouge
Axel
Smart Ape
Professor Layton
Yuffie
Team 15:
Sparx
Cynder
Yuna
Birdo
Nero
Peach
Neku
Rosalina
Xigbar
Apple
Don Paolo
Yoshi
Mr. Dark
Talim
Phoenix Wright
Amy
Annabeth
Wander and Agro
Team 16:
Lyn
Alder
Falco
Naraku
Kefka
Marle
Chewbacca
Gremlin
Sirius
Fox
Luke Trition
Pearl
Godzilla
Charmander
Terra [KH]
Batgirl
Linebeck
Discord
Team 17:
Miroku
Ryu
Platinum
Lizardman
The Joker
Peter
Exdeath
Poseidon
Xemnas
Roll
Light
Miles Edgeworth
Gollum
Torchic
Tifa
Giovanni
Orochi
Robo
Team 18:
Ansem
Shelby
Onion Knight
Dumbledore
Ultimicia
Little Mac
Grover
Kuja
Sheik
Zekrom
Arcues
Shiki
Jasmine
Okami Amaterasu
Ripto
Predator
Yellow
Champion Lance
Team 19:
Donkey Kong
Roy
Turtwig
Siegfried
James Bond
Frog
Zant
Toad
Kyogre
Cervantes
Clu
Red XIII
Marluxia
Sub-Zero
Zeus
Palutena
H.I.V.E. Mind
Thor
Team 20:
Majora's Mask
Abyss
Ashe
Scorpion
Bruno
Zora
Mewtwo
Zemus/Zeromus
Joshua
Boo
Chikorita
Sophitia
Ranma
Goombella
Koops
Ghetsis
Aqua
Bellum
And that's the teams.
To avoid confusion, Terra from FF6 will be Terra [FF6] and Terra BBS will be Terra [KH]. Also, Silver from Pokemon will be Silver and Silver from Sonic will be Silver H., which stands for Silver the Hedgehog. Champion Lance is the good Lance from the Johto games and Elite 4 Lance is the evil one from the Pokemon Adventures manga.
First elimination soon.