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Am I talking about Swordfighter Peach or the obligatory Takarazuka Revue joke here?

Am I talking about Swordfighter Peach or the obligatory Takarazuka Revue joke here? | PRINCESS PEACH: SHOWTIME! TAKARAZUKA REVUE ESQUE OUTFIT | image tagged in spongebob hype stand,it's showtime,super mario bros,princess peach | made w/ Imgflip meme maker
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PRINCESS PEACH: SHOWTIME! TAKARAZUKA REVUE ESQUE OUTFIT