Also. I've noticed that if you're low on ammo (The gun you have equipped is near empty), low on medkits (Don't have exactly 4 medkits total at the moment), or don't have exactly all 4 guns in your weapon slot (1 more weapon or more is needed to pick up), the audience will try to help you fill up your inventory for you. So make sure you give them enough time to see you running on empty.
Example: Try running around only using takedowns, while having a weapon equipped at the moment that has low ammo. Then the purple smoked ammo loot will be thrown down at you.
Blue smoke loot = Higher level Weapon (ACE, MKG, SPAZ 12, Etc.)
Green smoke = Medkit
Purple smoke = Ammo
In the arena you can only have 4 medkits at a time, But! If you have completely upgraded your loot bag, and have maxed out on green leaves (Which if your bag is full of just green leaves, it will be exactly 150 green leaves). You can constantly keep crafting new Health Syringes within the arena automatically as your competing. (THIS CAN SERIOUSLY IMPROVE YOUR PERFORMANCE)
Fastest Way To Get Green Leaves: (Fast travel from Ghale's House and to an outpost in South Kyrat called "Barnali's Textiles" back in forth until you are full (YOU HAVE TO BE FAR AWAY ENOUGH FOR GREEN LEAVES TO SPAWN BACK IN THE SAME PLACES) (With the harvester skill, you can double the amount of leaves you pick up, so if you repeat this strategy, it should get you 20 green leaves per fast travel). Ghale's safehouse has 3 green leaves in the garden that you can unlock, and Barnali's Textiles Has exactly 7 Green leaves around the Outpost that you can find. Go towards the west of the outpost and follow the path till you find them. Last green leaf is near the front of the outpost, up the path, near the street. (Check your MiniMap)
Location and Coordinates of Barnali's Textiles Outpost: x:446 y:687 (Top Far Right of SOUTH Kyrat)
And lastly... for me (I don't know about you), but every time the audience try's to give me the MG42 Buzzsaw, it ends up glitching and freezing in midair by the stands. Practically never makes it down to the ground all the way, to where it can be picked up. (That's fine anyways, because I don't need it. It's too overpowered of a gun and ruins the fun/challenges of the game anyway.)
Good luck in the Arena Out There! BALAH BALAH! ;)