Elisabeth legs looks like spaghetti.
This is not useful feed back ^^^ this topic has nothing to do with Italian cuisine.
I know you were going with this pose but with her newer palette.
Spoiler, click to toggle visibilty
(http://www.fightersgeneration.com/characters/elizabethxi.jpg)
It looks like you got the pose mostly right, so good job.
I am not an artist by any means but here is my opinion on the sprite.
I feel like the sprite is a good first attempt, although some of the shading needs a little work mostly on the legs (seems pillowie?) the hair feels looks a little uneven but is very fixable.
again not a "bad" sprite but needs some more attention.
edit:
oh forgot to post this, Thedge made this for me.
(http://i707.photobucket.com/albums/ww75/jpccomics/Varios/shermie-done_zpsyhgmrwn8.png)
I also am having Thedge make another one of her in a different pose so you can choose which one you like best Swiper.
I know a a way that don't need a lot of Coding, I found out about this method from a KoF Zillion Demo from mugen China, before they began to do all the moleboxing stuff to keep everything secret.
Mega EDIT:
The normal approach would be to use 2 different Portraits, but that will not work because of Mugen limitations.
(http://i166.photobucket.com/albums/u108/Nemmesis_photos/Geheim/P1P2A_zps6nbavpc1.png~original) (http://s166.photobucket.com/user/Nemmesis_photos/media/Geheim/P1P2A_zps6nbavpc1.png.html)
Instead you use one big Portrait that Contains P1 and P2 sprites with enough space between them, you just hide one part of this big Portrait and create the illusion of having 2 different ones. You just have to find out how much space you need and adjust the X & Y position of it.
There are many different ways you can do it, and they can vary even more if you decide to change the p2.facing value.
Spoiler, click to toggle visibilty
(http://i166.photobucket.com/albums/u108/Nemmesis_photos/Geheim/P1P2Fin_zpsl7ee4jnd.png~original) (http://s166.photobucket.com/user/Nemmesis_photos/media/Geheim/P1P2Fin_zpsl7ee4jnd.png.html)
I made a little test with Kung Fu Man and it still works, I changed his big Portrait like Mugen China did for there chars in ther old KoF Zillion Demo, it looks now like this:
Spoiler, click to toggle visibilty
(http://i166.photobucket.com/albums/u108/Nemmesis_photos/Geheim/6KFM_zpsppxbah30.png~original) (http://s166.photobucket.com/user/Nemmesis_photos/media/Geheim/6KFM_zpsppxbah30.png.html)
After that I had to made Changes in the System.def in the Select Info.
I changed p2.face.offset and p2.face.facing to this:
p2.face.offset = -2285,0
p2.face.facing = 1
And voila we have different portraits for P1 and P2
Spoiler, click to toggle visibilty
(http://i166.photobucket.com/albums/u108/Nemmesis_photos/Geheim/SELECT_zpswrw5yoph.png~original) (http://s166.photobucket.com/user/Nemmesis_photos/media/Geheim/SELECT_zpswrw5yoph.png.html)
After that I made changes to the VS Screen
I changed p2.face.offset and p2.face.facing to this:
p2.offset = -2348,30
p2.facing = 1
And that is the result:
Spoiler, click to toggle visibilty
(http://i166.photobucket.com/albums/u108/Nemmesis_photos/Geheim/VS_zpsf8grdpme.png~original) (http://s166.photobucket.com/user/Nemmesis_photos/media/Geheim/VS_zpsf8grdpme.png.html)
It's up to you how you create the big portrait, and how you place it, but if you decide to use this method there are two important things you have to keep in mind.
1. You have to beginn with the template that fits for all Chars, Big, tall and smal, so it will be a lot of wasted space on smal chars.^^
2. Because of that try not to crop the image, it will just screw up the X & Y Positions.
Btw. It's the first time in years that I made something like this again, soo if the stuff with the croping is no problem anymore or something like that, then just ignore that part, and I don't know if a Portait has to be this big like the one I used on KFM, I chosed the size of it randomly.^^
Another Edit:
If the Pictures in the Spoilers don't show up, reaload the page that should help.
actually its from this art
Spoiler, click to toggle visibilty
(http://www.fightersgeneration.com/characters3/ryo-ngbc.jpg)