From the Super Mario Wiki, the Mario encyclopedia
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To initiate the shot, Dixie Kong spins and dribbles the ball in a triangle. The ball glows yellow with stars trailing behind it. Dixie Kong throws the ball straight up, a Barrel Cannon falls out of the sky and catches the ball inside. She backflips onto the cannon and shoots the ball into the hoop. A red explosion followed by multicolored confetti complete the shot.
When shot outside the 3-pointer line, a teammate needs to catch the ball and dunk it to complete the shot. Nothing about the visuals change.