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Donkey Kong Part 3 - Did You Know Gaming? Feat. TheCartoonGamer
 
The music for Frosty Village seems to be a faster-paced, copyright-law-friendly version of the popular Christmas song "Winter Wonderland".

Part of the Walrus Cove theme also resembles Gene Autry's "Here Comes Santa Claus" in the same regard as well.
Contributed by PirateGoofy
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In the game's files is an unused model of a balloon that contains the Nintendo, Rare, and Pro-Am 64 logos.
Contributed by GamerBen144
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There is an unreachable golden balloon hidden underneath the Dragon Forest boss track
Contributed by MeleeWaluigi
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In 2004, another attempt at a sequel for Diddy Kong racing was made, this time as more of a follow-up to the original called Diddy Kong Racing Adventure. The game would've been released on the GameCube, and would've been developed by the UK game studio Climax Studios.

The story of the game focuses on Wizpig seeking revenge on Diddy by teaming up with the Kremlings to turn Kongo Isle into a series of race tracks. Diddy gets his buddies to stop Wizpig and the Kremlings to take back Kongo Isle.

Climax presented the demo of Diddy Kong Racing Adventures to Nintendo, but they didn't give Climax approval to develop the game.
Contributed by CLXcool
There are unused balloons in the game which feature most of the racers' faces. Diddy Kong, Conker and T.T. are the only racers without one of these balloons.
Contributed by RadSpyro
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There are two unused characters and an unused vehicle left in the game that are accessible only with cheat devices. The first is one of the pterodactyls found in Hot Top Volcano, who share the behavior of a boss. The second is a Snowball which will only move when the player is not looking. And finally, there is a Hovercar vehicle which acts very similar to the plane, except it does not descend when left in mid-air.
Contributed by RadSpyro
Krunch is actually one of King K. Rool's spies, sent to investigate why Diddy Kong and his friends are on Timber's Island, and to see if they're hatching some kind of anti-Kremling plot.
Contributed by CuriousUserX90
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A sequel to the game was being developed titled Donkey Kong Racing, where Donkey Kong would be the main character. The game was first announced at E3 in 2001 and a trailer was shown at Space World in the same year. The game was going to be released for the Nintendo Gamecube. However, because Rare was acquired by Microsoft in 2002, the game was cancelled.
Contributed by GamerBen144
Early in the game's development, when it was known as Pro-Am64, Timber was the game's main character.
Contributed by RadSpyro
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Pipsy is based on the main character from a cancelled Rare game called Astro Mouse.
Contributed by CuriousUserX90
There are a grand total of 6 unused tracks present in the game's data. One called "Horseshoe Gulch" can be accessed using a cheat device, and seems to be used for the title screen intro. Two of the other maps seem to be early versions of Hot Top Volcano. Another, simply called Cube Test, is also found within the data of Jet Force Gemini and Mickey's Speedway USA.
Contributed by CosmykTheDolfyn
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Diddy Kong Racing wasn't originally going to star Diddy Kong, and was originally a game called Pro AM 64. It wasn't until a demo of the game was presented to Shigeru Miyamoto that he suggested Diddy be the mascot of the game.
Contributed by Koopaul
An unused character selection song suggests that Taj was going to be a playable character in the game. The track is played with sitar strings which are associated with that character. Taj would later become a playable character in Diddy Kong Racing DS.
Contributed by Koopaul