Choose everything you want to use for equipment at the start and pick the game type. Go to "Hunt", press the BLACK button, choose the heaviest item and press A then do this repeatedly. When everything is out put it all back. You will move as if you have no items.
Enter the "Codes" screen from the main menu. Select an empty slot to enter your code. Then enter the pictures in this order from left to right:
Skull, Eye, Boot, Lighning, Hand.
It will then ask you to press "A" to activate this code.
Skull, Eye, Boot, Lightning, Hand
Player Regenerates Real Fast