Banjo-Kazooie debuted in 1998 in a game by Rare. It had a sequel, Banjo-Tooie, in 2000. After that, Microsoft brought Rare and acquired the rights to the franchise.
This is the third character to come out as part of the Fighter Pass, following Joker from Persona 5 and Hero from Dragon Quest.
Nintendo also revealed today that Terry from Fatal Fury will be the fourth character in the Fighter Pass.