Here's another way to do it with Ganondorf, also requiring no bat (though you wont get as much distance as DeadlyD mentioned, it's easier to do):
1) run to the bag and do a fully charged up smash
2) as the bag is coming down, double jump up to it and do a down+A, sending it to the ground
3) as soon as you hit the ground, do an uncharged up smash
4) again, when the bag is coming down, double jump up and do another down+A
5) as soon as you land (just after the guy says one), immediately do a warlock punch
This method should net you about 470 meters, giving you the Paper Mario trophy.