The Cherish Ball, unlike the Poké Ball and Master Ball, captures any opponent it comes into contact with upon being thrown. It deals 1% damage upon hitting opponents and 3% damage when capturing them, though only one character can be captured at a time. Captured opponents cannot break out of the Cherish Ball, and a Cherish Ball that captures an opponent will fall downward with them, ignoring stage boundaries and inevitably reaching the bottom blast line. Cherish Balls can also be picked up and thrown again after capturing opponents. However, if a Cherish Ball lands before hitting an opponent, it will disappear.
The Cherish Ball is a variety of the Poké Ball introduced in the Generation IV Pokémon games, Pokémon Diamond and Pearl. Unlike most other Poké Balls, the Cherish Ball cannot be obtained through normal means and is used only to contain event Pokémon distributed to players through promotional events. Thus, it is the only Poké Ball in the franchise that cannot be separately obtained or used to capture wild Pokémon, and unlike most Poké Balls, bred Pokémon will not inherit the Cherish Ball from their parents.
The Cherish Ball is the only item in SSF2 intrinsic to an event.
Its exclusivity to an event may be a reference to the Cherish Ball's exclusivity to event Pokémon in the Pokémon games.
The function of the Cherish Ball is based on the function of the Master Ball item prior to Beta 1.2, which would capture opponents thrown at. However, unlike the Master Ball, the Cherish Ball cannot be broken out of and ignores stage collisions when falling rather than stopping at the ground, making being caught in one a guaranteed one-hit KO. It also disappears upon landing on the ground instead of opening to capture an opponent.
Within the files of the game, there exists unused data of the Cherish Ball being selectable in the item switch. However, it is unknown whether the item is planned to appear in normal matches.