The final product was supposed to come out in December, but it was delayed further, and the entire game was rebuilt. Early footage of the show revealed the 50% complete beta version of Super Mario 64, in which it looked completely different than what the final product looked like. The first time Super Mario 64 was shown was at the Shoshinkai show in November of 1995, with the introduction of the Nintendo 64 (Ultra 64 at the time).
Super Mario 64 started development sometime before 1995.