From SmashWiki, the Super Smash Bros. wiki
The Trophy Collector (known internally as FIGUREGET) is a stage found in Super Smash Bros. Melee's Classic Mode, used in the Snag the Trophies minigame. It consists of a large cup made of rings, with trophies falling from the sky, which must be knocked into the cup. There are also two, smaller, floating platforms on the sides. The top ring of the "cup" acts like a floating platform, while the bottom section can be walked through; the cone has a red, flashing arrow on top of it pointing into the cone, as to alert player where to send trophies. After twenty seconds have passed, the arrow will stop flashing, regardless whether or not all the trophies have been snagged or not.