Not a new game...quite old, in fact. Today I was looking up random arcade game histories and I went to Dancing Eyes and saw the creator made a game previous to that called The Outfoxies. Interesting, I'll have to try that. So I did. Thanks MAME.
It's kind of amazing for a game most people probably never heard of or remembers.
Hardcore Gaming 101 has a nice little article on it with some screens to look at. Game plays a bit like a more platformy Smash Bros where you're trying to kill the other person in this level. The screen will zoom in and out depending on how close you are to one another to keep you both on screen. There are weapons laying around that have limited used to help get the job done.
What I think is most interesting is the interactivity with the levels themselves. There is a skyscraper where you start on the top floors. There are these big canisters that if you shoot the platform out from under them they drop and can crush your enemy. There is an explosions a few minutes into the level where some floors collapse and a helicopter comes crashing down. You're then forced into a floor that is like a fancy dining hall where you can throw hot soup at each other. After a time you go down another level where you can fall into a tank with sharks in it so the sharks will attack you. And thats one level and I'm not even describing everything. Another level starts you off on a plane already in the air. For a game made in 1994 thats pretty impressive. Would be really great to see this kind of thing remade (the zooming is pretty blocky).
Also you can play as a monkey wearing a tux and top hat.