Liquid is intended to be a fighter in MKX. He is the result of Sub Zero's soul's escape from Quan Chi's enslavement. In order to escape he had to merge his soul with a Tarkaton soul. After the escape, they became a weakened entity and drew power from the surrounding molten metals in Netherrealm. The creature seeks revenge on those who have harmed the Lin Kuei and the Tarkata race. He is known as Liquid.
Your character doesn't quite make sense to me. It's Sub-Zero... but he's got a different name... And he's now part Tarkatan, yet I see nothing on him that resembles anything of Tarkatan. His "attack" face reminds me too much of Medusa, not really Tarkatan.
And if this is the younger Sub-Zero and this is following the story after the current game, wouldn't Sub-Zero basically be AGAINST the Lin Kuei since they Automated him?
This honestly wouldn't have been that bad of a character if it wasn't Sub-Zero. I can certainly accept change, but... if he's not even being called Sub-Zero, you might as well make him an original character rather that a totally different character that's being given to a recurring character.
The costume concept isn't bad either, but it totally calls Power Ranger for me.
It's not a bad picture, nor is it a horrible concept for a character, but it should be an original character and not it being Sub-Zero But it is your work so, nice job.