Bayou Battle: When it comes to characters of cheesy 80's flicks, nothing tops:

Bayou Code of Honor

Make sure to highlight your character's superpower.
Focus your superhero's power on the previous champion's power as much as possible.
Wordplay is strongly encouraged.
The early bird gets the worm. If you're prepping a hero and someone beats you to the punch, too bad, so sad. It happens. Feel free to link to your alternate hero in the comments, though!
If using a pre-existing character or hero, try to use it in a novel or creative way.
If your reference is unusually obscure, feel free to include an explanatory link.
To avoid repetition, look through earlier entries.
Battle your hardest.