Midna : She could use that funky arm thing to do some moves and throws.
Let remember that a lot of characther got new moves that wasn't in their respective game. Like Luigi with is rocket move and things like that.
(let use the GC button)
B:Twilight Beam : could be like Fox gun but with some nice Twiligish effect each time she fire a beam , and could be a little slower but more power full and could be chargable
foward+B: Twilight Realm Warp: she could warp behind the other player
up+B:Twilight Ball : Some kind of big Twilight Bomb attack like SanGoku Spirit Bomb , would take some time to use but very power full
down+B: Arm Counter : she could block with her arm , and grap the player and crush him with the hand.
She would be fast like Pikachu maybe a little bit slower , have some weak attack (A button) but would have some hardcore smash when they are fully charged.
Special Attack with the item: Spoiler!
Fused Shadow Attack: She could use the Fused Shadow and transforme like at the end of Zelda:TP