Capcom's 1.06 update patch for Street Fighter V includes an all new series of knockout animations and stage transitions. Essentially, after losing a round at the end of a match, a silly animation will play of the character getting humiliated depending on the stage.
I'm sure a lot of people are wondering why this wasn't added into the core game at launch, and the basic answer is that Capcom wanted to get Street Fighter V up and out in time to make it onto the eSports circuit to lead up toward the Capcom Cup finals at EVO this year in Las Vegas, Nevada. In order to rush the game to the market, they had to cut a lot of corners, including not having a single-player offline arcade mode, not having a proper story mode, not having all of the stage transitions implemented, and not having a lot of other tweaks available right from the start.
The lack of features really hurt Street Fighter V's sales momentum, but they're trying to make up for it with a lot of free content and updates, post-launch... such as the KO stage transitions. One of them includes knocking an opponent into the hands of an M. Bison statue, where the losing character gets hit with a psycho charge. Another stage KO includes being knocked into a group of elephants or splattered against the wall in a yoga pose.
In the Shadaloo base, there's a brief nod to the Street Fighter live-action movie starring Jean-Claude Van Damme and Raul Julia. If you knock a player out on the far left side of the screen they'll get knocked into a computer console that shows their stats and vitals, similar to when Guile knocked Bison into the computer console in the movie and it showed his stats and vitals, and gave him his psycho powers.
The New York stage actually has a few different KO transitions, including knocking an opponent through the glass doors of a bank, and if you manage to win the second round by forcing them to the far right corner of the screen and knocking them out, you'll get a short animation where they're jettisoned into a bank vault that closes behind them. On the opposite side of the stage, knocking them out on the left side of the screen triggers a short animation where a hot dog prop falls on their head.
Some of the animations are more outlandish than others, and they remind me a lot of the interactive environmental triggers in NetherRealm's Injustice games. Only, Injustice didn't make you look like a buffoon when getting hit by the stage transitions. In fact, if you look at a few of the ones from Street Fighter V that were compiled by YouTube user Charles Lupula in the video below, you'll see that some of them range from corny to goofy to outright silly.
The new KO stage transitions are available in patch 1.06 for Street Fighter V. The new patch also includes Urien joining the roster, so that should help add some extra replay value to the game.