The main idea is to run from point A to point B. When a player has reached point B, he or she warps back to point A. Each player has to do 5 laps to win. The game ends when all players but one have done their 5 laps.
Good level makers make the race hard to finish. There can be different kinds of obstacles and traps on the way to point B, like springs that bounce the player back, destructive floors or tricky jumping sections.
Some level makers also used the Treasure mode to play races.
Eat your lima beans, Johnny.