Statues are usually pretty expensive...so I probably wouldn't buy one. But it would be pretty neat, say, if I lived in a mansion and had some sculptures around. Character-wise, I'm sure Scorpion/Sub-Zero/Raiden would be the most popular. I'd get something cool and unusual, though. Maybe Ermac.

Depending on the price and quality I would probably get one. Sub-Zero or Reptile for me.

Id see if they had a jax one if no then maybe reptile

I'd get Mileena. But in one of her older attires. I'd feel like a perv if I had her in her newest costume sitting on my lawn.

If money was no object...

Definite: Scorpion, Sub Zero, Kitana, Raiden, Sheeva, Shao Kahn.

Depending on pose/costume: Mileena, Sonya, Shang Tsung, Sektor, Jade, Quan Chi, Shinnok, Goro.

Have you guys every seen the classic marvel figurine collection by Eaglemoss? I have about 40 of them and this is how the statues should be made. Excellent detail! We could have every Character this way and they cost about $20 US. They are also doing DC and I think Buffy and Angel characters as well (in different collections)
Here is the link
http://www.marvel-figurines.co.uk/shop/shop.asp
The specials could be the bosses of MK.