Some Gods in Mortal Kombat and Possible Inspirations
The Elder Gods are the highest pantheon. No other Elder God was known except Shinnok the ruler of Hell. If we are to follow Chinese pantheon, the Elder Gods is headed by the Jade Emperor. The Jade Emperor presides all and he is flanked by the other Elder Gods.
Raiden god of thunder and lighting took his name from the Shinto god of thunder but would have been appropriately named Lei Gong the Chinese god of thunder. Raiden's appearance looks closer to a Taoist god than a Shinto one. Raiden came in human form so nobody really knows what's Raiden's true form but I assume he looks like Lei Gong, the Chinese thunder god or that of Raiden, the Japanese thunder god.
The four gods that protect the Himalayas. Lesser gods namely the god of fire, the god of earth, the god of water and the god of wind. Fujin the god of wind appeared in Mortal Kombat 4/Gold as a lesser god. Raiden is above them.
Shinnok the ruler of the Netherrealm. He was once an Elder God but was banished into Hell for his crimes. He could be derived from Yama who was chosen by the Elder Gods to rule over Hell or Mara. What can be known is that perhaps when Shinnok was banished into the Netherrealm, it was still under the rule of Yama until he overthrew the latter with the help of Quan Chi, forming the Brotherhood of the Shadow.