Thanks for the comments, everyone! 

I tried to address the issues mentioned. I kept the tiny waist though, as that was a stylistic choice and I like it (although I did try a bigger waist to see what it would look like). I also tried to edit the arm like Turbo said, but that made her arm way too long and her pose look very unrelaxed.

I originally drew one hand behind her back, because I didn't want the pose look too the "samey" on either side. I guess that didn't work so well. 

I didn't shorten the neck as much as Helm's version, because it looks strangely compressed to me.



Better?

My suggestion is to start drawing in the hands right now, and not wait until you've detailed the arms. The reason is that I don't think the current forearms will work with any hand pose.

Here's a suggestion on the most prominent hand, excuse the non-pixelness:

I think that the original line art is way more stylish than the shaded version. The shapes in the head work much better especially. I also thought the stitches were a nice touch. Personally, I would stick to the sketch much closer when doing the final piece.

This is really a funny scene! I love it. The faces are adorable. 

That said, I do agree with the others that the female's figure is really stocky and generally unatractive. The ribcage is really far too wide. The neck could stand to be one pixel taller and also a bit thinner. The breasts seem saggy mostly because the highlight is misplaced, it should be lower. The legs and hips are not necessarily too fat, but they are too bulgy. They need to be sleeker and taper more gradually towards the joints.

Also, clothes do not cling to the body like that, especially not a sweater and jeans. Make the clothes come away from the body a bit, or else they look like bodypaint. Get rid of all the muscle definition too, these type of clothes would not show that. In fact, she shouldn't even have that kind of definition if she was naked, it would make her look like a she-hulk. The muscle definition in her neck is definitely too much as well. Futhermore, the folds on the side of her body look kind of like muscle definition, I'd get rid of those altogether.

Another thing to note is that clothes will always stretch across the chest forming a "monoboob", unless the clothing item has modelled cups (like a bra or bustier).

The clothes could use some more realistic details as well, like folds, pockets and ribbed hems. Keep in mind where folds really happen, for instance you don't get folds above the knee at the front, but you do get folds at the back of the knee. I think you should give her shoes some soles as well, because they kind of look like socks.

And lastly... drainpipes are extremely unflattering unless you're sixteen years old and weigh a 100 pounds. 

Here's an edit to clarify my points:



@ Feron: Cupid is mostly portrayed with blonde curly hair, actually. I've never even seen a bald one. 

where do I find this so called "Wayuki's work" ?

I have a topic right below yours.