This sound is from Mature - King of Fighters '98 Ultimate Match - Playable Characters (PlayStation 2)

The Slugfest, known in Japan as The King of Fighters '98 Dream Match Never Ends (KOF '98) is a fighting game released by SNK for the Neo Geo arcade and home consoles in 1998. The game was also remade for the PlayStation 2 in 1999.
See also: List of The King of Fighters characters, The King of Fighters 2002, The King of Fighters XII, The King of Fighters XIV, Iori Yagami, Athena Asamiya,