A common belief relating to Rare's work with Nintendo in the 1990s is that the Banjo-Kazooie series and the early family-friendly iteration of the Conker series were originally intended to share a universe with Donkey Kong. By extension, this would also connect them to the Mario series. This belief stemmed from Banjo and Conker's debuts as playable characters in Diddy Kong Racing, other shared characters (e.g. Gnawty, a beaver who appears in both Donkey Kong Country and Banjo-Kazooie), and other planned appearances like the Ice Key from the Banjo-Kazooie series' unused Stop 'n' Swop feature being found in the data for Donkey Kong 64. This interpretation was so popular at one point that the largest English-language Mario fan wiki, Super Mario Wiki, hosted articles about Banjo-Kazooie and Conker characters.

However, Banjo-Kazooie creator Gregg Mayles has stated that Rare's non-Donkey Kong games were never intended to share a universe with Donkey Kong, while Conker's Bad Fur Day director Chris Seavor has gone on to say that Banjo-Kazooie and Conker also do not share a universe.