By heading over to the official Capcom blog, players will be able to vote for one female character, and one male character. Female character choices consist of Cammy (Street Fighter), Morrigan (Darkstalkers), Rouge (Power Stone), Roll Caskett (Mega Man Legends), and Ashley Graham (Resident Evil 4).
The male options are Frank West (Dead Rising), Balrog (Street Fighter), Guy (Final Fight), Ken (Street Fighter), Dhalsim (Street Fighter), and Captain Commando (former Capcom mascot and protagonist of the arcade game of the same name). At the moment, Ken and Morrigan are both leading their respective polls. Of course, we wonder why Capcom can't simply include all the characters in the game, but we'll take what we can get.
[Via Wii Fanboy]