Heh. I've got the Golden Axes as well. Streets of Rage is far, far superior, but Golden Axe has a place in my heart.
I don't know about live action, someone did once make a short video of skeletons playing football with those giants with the hammers in goal. It's in my favourites, but unfortunately it's "not available".
In that case, just listen to this if you haven't heard it before: