I consider myself fully cognizant of the most important crossover-permutations of crossovers in popular fiction. The earliest examples seem to be short-term, usually dealing only with two established characters or concepts encountering one another, like the 1920 SHE AND ALLEN. John Kendrick Bangs' four "Associated Shades" stories, which I have not read, may be the first time someone invented the idea of a "team" whose members were fairly fluid, though most of Bangs' characters were historical rather than fictional figures.
As far as I can tell, the first true "rotating team" concept appeared in 1963. Since 1955 DC Comics had been trying to score a hit in its anthology series THE BRAVE AND THE BOLD. Though DC was sometimes able to use the title as a showcase for serials that graduated to their own series, such as the Justice League, nothing caught fire within the magazine, until issue #50 teamed up two of the company's lesser lights, Green Arrow and the Martian Manhunter. Batman began enjoying team-ups irregularly in issue #50, but not until issue #74, in 1967, did he become the exclusive co-star in the series, using his TV-amplified clout to help DC try to hype its vast array of non-bat characters.
In many respects, this innovation resembled the core idea for the Golden Age Justice Society, whose principal raison d'etre was to use the more popular DC heroes to spark readers' interest in lesser lights. I tend to doubt that any of the 1960s lesser lights burned any brighter thanks to hobnobbing with Batman, any more than 1940s flops like Starman and Hourman had benefited from their temporary association with the Flash and Green Lantern. But once BRAVE AND BOLD became dominated by the Caped Crusader, the series provided its writers with a dubious challenge: that of finding rationales for teaming up the urban hero with characters rooted in wild concepts of SF and fantasy, like the Metal Men and Green Lantern, or even in different time-frames, like Scalphunter and Sergeant Rock.
Now, had any of these short-term team-ups appeared in one of Batman's own books, then the team-up characters would be mere "guest stars," and the charismatic action would be non-distributive, descending only to the Big Bat. But in theory, even though Batman is a constant presence after 1967, the concept of the franchise should mean that Batman shares charisma with any of his co-stars--
-- with just a few exceptions. Most of the time, the co-stars either had their own franchises, or had enjoyed such regular berths at some point in DC's history. However, on a few occasions the Bat teamed up with one of his famed enemies, and I would consider all of these to be subordinate rather than coordinate figures, because the villains had not previously enjoyed their own franchises.
Here's the crusader being forced to team up (sort of) with the Riddler--
And here he is with Ra's Al Ghul.
Admittedly, by the time that the Brave and Bold Bat had to make a temporary alliance with the Joker, the Crown Prince of Crime had enjoyed a short-lived nine-issue solo series. But since he wasn't really known as a starring character despite that series, I would say that he too became as much a subordinate figure as Riddler and Ra's, due to the dominant approach of the BRAVE AND BOLD series.
A similar aesthetic came to pass when Marvel attempted to sell Doctor Doom as a regular co-star in the title SUPER VILLAIN TEAM UP. Though the Sub-Mariner was also a regular for the first nine issues, issues 10-12 11 focus upon Doom's (non-team) encounter with a genuine Marvel fiend, the Red Skull. Admittedly #10, seen before, still shows the "team" of Doom and Namor above the series-title, the next two spotlight Doom and the Skull.
Namor gets the above-title billing in #13 again, but then it's Doom and Magneto in issue #14.
Following a reprint of an earlier Doom-Skull tale, the series then finishes up with a two-parter with neither Doom nor Namor, but presenting the Red Skull working alongside a far less popular Marvel menace, the Hate-Monger.
Since at the time Red Skull, Magneto and Hate Monger had not enjoyed serials of their own, all of them would be subordinate figures, even as the Joker, Riddler and Ra's are within the context of BRAVE AND BOLD, and so Doctor Doom alone is the sole coordinate in the stories without the Sub-Mariner. HOWEVER-- in the final two issues, it can be fairly judged that both the Red Skull and the Hate-Monger share the centric position. In the absence of a figure who dominates the narrative, the way Batman dominates most texts in which he appears alongside one of his vilains, the two villains here are coordinated as the unchallenged stars of the story.
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