This is Super Street Fighter IV's Tournament Mode
Screens show off the free downloadable mode of play.
In case you haven't had a look yet at Super Street Fighter IV's "Tournament Mode," Capcom shared some screens today. Check it out here:
Tournament Mode will be available as a free download on the 15th. This mode lets you create your own 4 or 8 person single elimination tournaments.
When you choose to create or take part in a tournament, you're taken to the tournament lobby. Here, you can see the other players and make settings adjustments.
Once the host player selects "Ready," the tournament chart is automatically created and the tournament takes place. Everyone returns back to the lobby once the winner has been determined.
When watching the tournament, you can engage in voice chat with other players and press Back/Select to record a replay of the battle.
The person creating the tournament can set himself to "organizer" and can freely make adjustments to upcoming battle lineup. Capcom has said that it plans on holding official Super Street Fighter IV tournaments using the organizer feature.
Visit the Super SFIV official site trailer page for a video of the new mode.
To get the tournament mode, PS3 owners will simply have to power up the game. The mode will download automatically. Xbox 360 owners will need to download the mode from Xbox Live Marketplace.
Outside of the new mode, the update will fix some bug and balance issues. You can read about these here.