From the Super Mario Wiki, the Mario encyclopedia
To access this level, the timer must end with the two digits "77" (that is, "x77", where "x" can be any number) when the player reaches the Goal Pole of any World Mushroom level. Once the level is completed, it can be accessed again by satisfying the above condition once more.
Mario begins on the floor of the world beside a Pipe Cannon. The overworld music here is a remix of the overworld theme in World 1. As Mario enters the Pipe Cannon, two rows of coins appear one after another above the pipe and Mario gets shot out into the sky, collecting the coins. Mario then lands on an orange moving platform. Coins then begin spewing out from the top and bottom of the area. Three fast spinning coin rings of various sizes can then be found and collected. A large Roulette Coin Block containing 10, 50 or 100 coins can then be found. This is followed by another set of spinning coin rings and a Red Ring. The Red Coins spin along with several spinning coins which has a flower-like pattern. Collecting the eight Red Coins replaces the player's inventory with a Gold Flower. This is followed by more coins being spewed out from the top and bottom of the area. Finally, a giant coin falls, marking the end of the course.