TSR PIXELART COMPO VOL. 1: STEAL THIS SPRITE (8/5 - 8/12)

[Gaia]

Hey, this is a cool way to approach things!
It's not the only way though, using a game like Super Metroid or Ganbare Goemon may be more interesting as well. Games like that would offer you the chance to really experiment with the design of a character or create an original character using one as a base.
Also, if you're broke for ideas, here are some suggestions

Ryu Hyabusa (Ninja Gaiden Trilogy)
Hagane (Hagane, SNES)
Rick Taylor (Splatterhouse III version, Genesis)
Castlevania: Bloodlines

Well, I found that Mega Man is a character that's constantly re-imagined awhile back. Took me a good amount of time for me to realize that I need to do something different aside from the usual Mario/Mega Man/Sonic/Bomberman/Popular 3rd Party combo. Though, I had considered looking back at unused ideas during the character's development (Sonic) and adapt them in a way (as in, re-imagine the ENTIRE concept using a rejected idea), as the style I find the most "successful" was origionally meant for the Castlevania series, but expanded to DC superheroes/etc.

I did a full run and currently narrowing it down to these games:

Bren McGuire (Super Turrican, SNES)
Raita (BS Kaizou Tyoujin Shubibinman Zero, SNES)
Prince Talmit (Marvel Land / Talmit's Adventure, Genesis)