My personal updated version, asks for input.
#!/bin/sh
file2play=""
echo "Enter the directory of the file: "
read file2play
export CACA_DRIVER=X11
#"slang" or "ncurses" withouth quotes if you are REALLY in text mode. yeah it works there too!!
export CACA_FONT=5x7
#other options you could try are "fixed" or other XxY formats without quotes
export CACA_GEOMETRY=200x90
#any XxY format that looks good. lower resotution is better for old pc or try -vo aa:WIDTH=X:HEIGHT=Y for black and white no color
mplayer -quiet -vo caca -alang en -framedrop $file2play
#you can change -alang to your two letter language like fr or sp or pt only available options will work though (I think)
#dvd:// can be changed to the path on any video mplayer will play
#you probably need -framedrop
Might work, might not work.
(MY FIRST BASH PROGRAM EVER!!! WOOOOT!...except I didn't make it, I edited it..that's fine though

)