With songs written around a few characters or scenarios.

If I had the choice to pick what bands would write for what, I'd have it set up like this:

(Band - Character or scenario the song is based on)

In Flames - Sub Zero
nile - The thought of Dragon King's return looming
Metallica - Raiden
Killswitch Engage - Liu Kang & Kung Lao
Shadows Fall - Shao Kahn's invasion of Earth
Black Label Society - Kano
Mariln Manson - Reptile
Superjoint Ritual - Scorpion
System Of A Down - Johnny Cage
Godsmack - Quan Chi
Arch Enemy - Sonya
Anthrax - (The old) Lin Kieu scandals
Danzig - Netherealm