Well save itin PNG format and the results will be better. His entire body is a bit off like wa-ba-ly or something His face is not bad, but the jpeg ruined it. His body could use more shading and FYI its nor red its more like a lighter purple or something. I'll let some1 else take it from here...
Yes you are correct marcel about the color, but I believe that one of reiko's alt. outfits was a shade of red. But this shade of red is isn't quite dark enough for that I don't think. And if he modeled this after a strategy guide book, then he would have used red I think as Reiko appears in a red outfit in my MK4 strat.
The face isn't so bad, the eyes are actually pretty good. But below his mouth, he doesn't look like he is human at all. He does in fact look very shaky for some reason, he's not very well proportion in the torso area either. I have no clue what those green things on his gloves are, Reiko does have spikes on his gloves, but those don't look like spikes to me. On the outfit itself, you need to use alot more colors I think, as that all looks pretty much like the same shade of red. Also, there are a couple places on his sides, its what I am guessing is supposed to be his bare skin. It doesn't look so well, but its not an awful start. Just take some more time to work on the flaws I mentioned.