Oh man, how have I never heard of this? I don't usually judge a game by its cover, but that looks just... awful. From the stupid punny name, to the "Toys R Us exclusive" stamp, it just needs a "& Knuckles" subtitle now.
It was one of the games that early MS announced to try and break into the Japanese market.
I think it was just not brought to the US at all, and then MS convinced TRU to take a bunch in hand if it was exclusive.
Thus, Sneakers made it to the US and was forgotten very quickly afterword.
MS funded a lot of very strange games early on trying to get into that market. Most were terrible.
Wreckless was awesome though.