Oh my God, that's ugly. Got kind of sloppy with the sprite editing, no?
However I must say THANK YOU for actually attempting to sprite edit. This being your first fake, it's better than a lot of the first fakes posted here. So good job on that.
Avoid copying and pasting background props senselessly just to make something up. They don't go together at all.

5/10

Terrible. It looks like you just sprayed Scorpion with yellow. The bg is a copy and paste job. Sub-Zero is terrible. All you did was change his hair. Badly. His ice hands are not looking good.....at all. I can't find any positives here. 0/5. Yeah, everyone's a cridic. EDIT:This is your first one? And you edited the sprites. 2/5 for trying to edit them with paint

I don't like it at all- this is quite simple because of a copy and paste job. It looks like your first fake. Good attempt to edit sprites on Paint though. 2.5/5 EDIT: The text doesn't go well with the lifebars.

The Arena really doesn't make sence at all. Don't just put some props in the bg, make it look like it makes sence, somehow. And for the sprite edits, put more effort in that. And if you made the fake in MS Paint, do not save it as JPEG. It will really lower the quality of the picture. Save it as PNG. If you use Adobe Photoshop, DO save it as JPEG, BUT put it on the highest quality level, 12.

Overal,

I don't like.