The order of your fighters is visible before a versus match, with "1", "2", or "3". You can select the 1st and 2nd fighters of your team, and thus change the entire team order. To select the 1st fighter, press LP + LK for the character marked "1", MP + MK for the character marked "2", or HP + HK for the character marked "3". Then, press the same button combos to choose the 2nd fighter. Finally, press Start.