Okay, we are getting off topic but it's still fun to speculate. The Orange character could be Crash Bandicoot, a character i don't seem to mind getting into Smash Bros, and the Blue character if NOT Kasumi from Dead or Alive, could be Arle from Puyo Puyo, another character i'd like to see in Smash Bros. Maybe Lip wasn't meant for the current DLC pass. Lip could probably be meant for either these choices:
a. Nintendo uses her spirit and Mii costume on the November 2018 direct to encourage fans to have a desire for a New Panel de Pon game, and to make up for her absence in the past 4 Smash bros. games, waiting for the fandom to openly support her proper character debut when a New Super Smash Bros. game is to be in development.
b. Nintendo maybe trying to re-enter the puzzle game franchise somewhere in the future, now that they have seen Puyo Puyo and Tetris reaching the gaming community BIG time, but Nintendo decides to NOT announce Panel de Pon. As stated, Nintendo is full of surprises, and Panel de Pon making its switch debut would be it. The latest installment was Planet Puzzle League on the DS, and spoiler alert, i would be surprised if Nintendo announces Panel de Pon for Switch.
c. Nintendo might make a DLC pass that is strictly about promoting a character from a Spirit into a Fighter, and one of them maybe Lip. (Before you start arguing, hear me out. I think i found a solution to the spirit problem. They can add a Legacy spirit. a Legacy spirit is a spirit out of a Fighter character (that has no other different iterations) that was formerly NOT Playable in the early versions, yet can still be used. Look at Lip's current spirit, the belt's color mismatches that of the Mii costume. If the Legacy spirit route is confirmed, Lip can have 2 spirits out of herself that distinguishes which one is the old spirit and which one is the new Fighter spirit.
https://www.ssbwiki.com/images/c/cd/Lip.png
The link above is how her current spirit looks like, short legs, pink belt, and she smiles, if she is promoted to a fighter, this image is her legacy spirit. But her fighter spirit however.....
This can be the Fighter spirit. The belt's color matches the one on the Mii costume, and Lip looks fierce, which should match the experience of Super Smash Bros. One can tell that if Lip's fighter spirit is this image, she definitely is suitable for combat, and this image could represent Lip's desire for a fight.
This is just a fun theory i want to talk about, and it's not even a leak or some rumors about her because the Internet barely knows about her despite her debut in Smash Ultimate, but again, i still support her inclusion in Smash Bros. And again, since i was into Puyo Puyo back in my first childhood of the 2000s and nostalgia in the 2010s, i would accept Arle and/or Amitie's inclusion in Smash bros first because: Chronologically, Arle's Puyo Puyo debut is in 1991, while Lip's debut in the genre and Panel de Pon as a whole was in 1995.
If a Puyo Puyo character makes it into Smash Bros (Please be Arle or Amitie (my favourite Puyo character of all time)), Nintendo will finally realize that Panel de Pon CAN definitely rival SEGA's Puyo Puyo and Russia's Tetris, and NOT only that, Arle or Amitie's inclusion will definitely have Nintendo finally approve Lip's fighter debut as the correct excuse for her to be in Smash.
Even if i would feel negative over her spirit in Ultimate, Lip's fighter inclusion DOESN'T HAVE TO BE in Super Smash Bros. Ultimate. There are other ways for Lip to finally gain fame while being represented by her inclusion as a true character of her own. A new Panel de Pon game that stars the Fairies ans Popples in all versions, Lip joining Mario Kart, a Super Mario maker 2 costume, Lip's sudden inclusion in Dr. Mario World, or a STRAIGHT UP DLC character in a 2D Mario platformer game and have the Boss battles be Panel de Pon's core gameplay itself rather than the usual Hit boss 3 times, or better: Lip gets referenced in Splatoon! (Her outfit can be one of the gears, her wand can be converted to a shooter, a Panel de Pon minigame in Inkopolis Arcade spots, and Lip's hairbow exclusively for the Inkling Girl headgear!)
And regardless, i still support Panel de Pon to return, and Lip's Fighter debut in ANY Super Smash Bros game to this day!