I found this posted by former NSider Sage, Bulerias
From a Famitsu interview...
FAMITSU: Have you been approached to contribute Animal Forest elements for the new Smash Bros. game?
KATSUYA EGUCHI: Yes, and there is quite a funny story to it. A few months after E3 2006, (Masahiro Sakurai) contacted me and asked if I'd like to develop possible Animal Forest ideas for Smash Bros. Originally, we settled on just a quick, simple Animal Forest item, but with the success of Wild World and the Animal Forest film, he asked if I'd be up for designing additional elements. [Laughs] Fast forward a few months and I had stage and character concepts created. Sakurai chose his favorite of the stage concepts, slightly tweaked it to his liking, and we together decided on the final Animal Forest character, which is a very fun character to play. With both the stage and character I utilized ideas from the games. For example, if you play the stage at night, the sky will be dark. If you play in the winter, expect to see snow, and leaves in the autumn time. And yes, trees will be decorated on Christmas! It's really something else. I worked very hard on this one little stage! [Laughs] The Animal Crossing character is very much like the one in the games. You know, he will use his axe, fishing rod, bug catching net, and everything else from the games.
So NO, people, it's not Resetti. It's just going to be your regular AC character.