Ring Rage is a standard wrestling game, just without the glitz and glamour of licensed games. There are six wrestlers total, but only five are playable:

Gunboat Rody, a former Navy sailor
Spike, a giant of a man from the means streets of New York
Yasha, a masked Japanese wrestler
Shadam, a Middle Eastern grappler
KO Joe, a former boxer now trying his hand at professional wrestling.

Killer Cane, an unknown wrestler from Canada is faced in the championship bout of the tournament, but he is not a playable character.

There are only three modes, 1P v. CPU, 1P v. 2P (which is achieved through a cable link and an extra cartridge) and a tournament which you compete to go for the TWF (Taito Wrestling Federation) championship.