Each side's costumes are inspired by the other franchise; alternate costumes for Street Fighter characters are based off Tekken, and vice versa. Several of the Swap Costumes directly copy - or else are inspired by - the costume of another character of the opposing side. Capcom's official Japanese website has a rumor section accompanying several pictures, providing the source of inspiration for each costume.
The five PS3 and PS Vita exclusive characters (Mega Man, Pac-Man, Cole, Toro and Kuro) do not have Swap Costumes, nor alternate costumes.
- Some Swap Costumes are based on versions of characters rather than the specific character in the game. Examples include Ibuki's, it is based off Yoshimitsu's Tekken 2 era outfit and Ling Xiaoyu having Chun-Li's Alpha timeline outfit.
- Chun-Li has the most outfits based off her due to Ling Xiaoyu having an outfit based off her Alpha era and Julia Chang having an outfit based on her more iconic outfit.
- Cross gender costumes are also in the game. Rufus having his Swap Costume based off Angel and Nina Williams having her Swap Costume based off Rolento.
- Swap Costumes were not released for the post release DLC characters in the PC steam edition (alternate outfits were not included at all).