Looks like Bowser has won some sort of competition, and he's not alone: he's with Chad Koopaman, and together they won a title against Mario and Yoshi, using them as pedestals to celebrate their victory. The crowd goes wild anyway, not caring about if the winners don't have the best of intentions at heart...
The blue Bowser is an edit by chadthekoopaman, who has sent me the textures to create his character. (Sorry that I've made an art including you so frigging late but I hope you enjoy it anyway!)