Lego Batman

At the main menu, press X, Y, B(2), Y, X, L(2), R(2), Up, Down, Left, Right, Start, Select. If you entered the code correctly, you will hear a sound.

Use the Enter Code Menu on the Computer in the Batcave

To unlock the Villian Hunt minigame, you need to complete all three villian chapters which are accessible from Arkham Asylum.

To unlock Azrael and Huntress, you need to finish the entire game (all three chapters). After the game's ending credits, return to the batcave and both characters will be unlocked and made available to purchase.

Enter these codes (provided by the Lego Batman toys at McDonald’s) at the cheat screen to unlock the following:

Password - Effect

BDJ327 - Bruce Wayne - (from Batman Batarang toy)
DDP967 - Commissioner Gordon - (from the Joker Helicopter toy)
XWP645 - More Batarang Targets - (from the Batboat toy)
MVY759 - Nightwing - (from Robin Grappling Hook toy)
KJP748 - Penguin Minion - (from the Penguin Submarine toy)
MAC788 - Police Van - (from the Batmobile toy)
CCB199 - The Joker (Tropical) - (from the Joker Surprise toy)
NJL412 - Yeti - (from Mr. Freeze Ice Blast toy)