When it came time to make a conductor for my John Smith Senior
20-key organ I used a combination of techniques.  See

  http://www.wallace-venable.name/mechanical-music/epona.htm 

I carved the body and arms from glued up wood blocks.  The head,
collar and hands were created with "polymer clay."  I did freehand
shaping of the collar and hands using the color of the clay itself.
You form the clay like "modeling clay," then bake it in a kitchen oven.

  https://en.wikipedia.org/wiki/Polymer_clay 

For the head I shaped the face with a doll/angel mold sold in craft
stores, then did the back of the head, ears, hair, and hat freehand.
After firing the clay I painted it with "craft paints."

My figure was small enough for solid construction, but hollow figures
could be made in two parts and glued together.  Just figure out your
"parting line" in advance.

Craig Smith mentioned using homemade RTV molds.  I have just learned
about a group of mold materials which can be reused and which may be
melted in a double boiler or microwave oven.  I haven't got my hands
on a sample yet (my local Wal-Mart does not seem to stock one) but
according to web information it may be available in some stores.  The
most appealing version seems to be Composi-Mold:

  http://www.composimold.com/make-your-own-unique-molds-and-casting.html 

Second-hand toys are a possible source of patterns for figures.

A 3-D router pantograph can be built in wood and used to enlarge or
reduce critical parts of your carving or pattern.  The pages below are
for reducing machines, but if you reverse the pointer and router they
will enlarge.

  https://woodgears.ca/pantograph/ 
  https://www.youtube.com/watch?v=le0lNhD9YVU 

Wallace Venable