I like the character designs, you should add more detail to the environment tough, and try making the holes actually holes! : p
The walking animations matches the beat of the music quite nicely!
The button layout was a bit weird, maybe try different combinations and include a controls screen.
Also, in my opinion you shouldn't include buttons like "Settings" that are grayed out and have no use, just ditch the button entirely if that is the case, that way people won't notice the lack of options that much.
Still a very nice submission, good job! : )