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There are two endings to DKC2. The first one is when you beat Kaptain K. Rool in the Flying Krock and the cast of characters show up as well as the credits.

The second is when you defeat Kaptain K. Rool in Krocodile Kore (the Kremling head in the middle of the lost world. He ends up flying into the blue, purple and pink light and there's an earthquake on the island. After you visit Cranky, you see a picture of Donkey, Diddy and Dixie (Dixie's actually on top of DK's shoulders) standing on a cliff on Donkey Kong Island watching Crocodile Isle sink into the sea. They noticed that something or someone sailed away (possibly K. Rool).