Due to Jin's... rather unhealthy fondness for Ragna, a common joke/play on words for the above is "What is Jin's favorite type of car? A NISSAN!!!" Explanation Nissan is a motor company; nii-san (which is what Jin frequently yells in the Japanese version while addressing Ragna) is Japanese for "brother." Summed up here.
And to a lesser extent, MOTORICICLES. Explanation Alternate take to the above.
Also, "YOU JUST GOT HAZAMA'D!", which has become a somewhat common shout-out around the Internet on April Fool's Day. Explanation Alternate take on "You Just Got Troll'd!"
Thanks to Dustloop and GameFAQs, there is a picture circling the internet of Rachel confined to a wheelchair looking at a tombstone for George XIII because of her (Continuum Shift 1) nerfs. This was followed soon after with pictures of her asking why God hates her, and God turns out to be Terumi, who calls her a dumbass. Needless to say, it's now common knowledge that Rachel is a cripple in her CS1 state.
WOOFWOOFWOOFWOOFWOOFWOOFWOOFExplanation A periodically barking dog that appears in one of the backgrounds of Continuum Shift ended up becoming an surprise Internet sensation shortly after the game's release on consoles. It's been nicknamed "Hype Dog" by fans, coming from a common competitive play phrase, "get hype" (meaning to get excited, i.e. for a tournament).
(◇)人(∵) Explanation As Hakumen and Arakune are both products of The Boundry, many fans depict them as friends. This ASCII art depicts them high-fiving, as shown here.◊
There exists artwork of Hakumen using Arakune as a RUBBER RING! That's true friendship right there. That said, Hakumen wears them in a few bits of fanart, so he must really suck at swimming.
LIKE A BOOOOOOOOOOSS, ON YOUR BUUUUUUUUUUTT...Explanation Childish killer, the new theme of Jin vs. Tsubaki in Extend, is laden with Engrish. As such, fans love to make Mondegreens of it.
ADVANCING ON YOUR POSITIONExplanation FUNimation's translation of Alter Memory is notable for not using the game localization at all. This is a literal translation of the end of Hakumen's White Void speech, replacing "THE END HAS COME".
Ice Brick◊Explanation Dustloop and GameFAQs have been having a field day with the QUALITY animation in the new BlazBlue anime. The picture linked depicts the anime's version of Jin's Ice Sword special move.
The animation budget was spent on Noel◊Explanation Noel summoning Bolverk in Episode 2 has surprisingly better animation than much of the rest of the show. It probably doesn't help her reputation as a Creator's Pet.
Sailor NoelExplanation The same scene, set to fitting music.
Terumi's◊ troll◊ faces◊Explanation Hazama's facial expressions in the anime are hilariously over-the-top, almost as if they decided to run with his QUALITY expressions from the Continuum Shift cutscenes.
Arakune: Nerfed in story, nerfed in game, and now nerfed in the anime◊.Explanation Arakune's appearance in Episode 8 has him doing his 2C animation up a flight of stairs, in hilariously QUALITY fashion.
Azrael the LOVE PHANTOMExplanation Azrael has a very stylish glitch combo, reminiscent of his original "basketball infinite" from the arcade version before it was patched out. Someone on Nico Nico Douga decided to set it to the song LOVE PHANTOM by B'z, and the rest is history.
The sequence in which Ragna takes down Mu-12 is well on its way.
Noel and pandas. Especially thanks to her line, "Hands off the Panda!"