I like the character designs. The characters are expressive and distinct despite being small.
The arm holding the flag looks fine to me.
The dark outlines are eating up your pixel space and adding noise when body parts sit in front of one another. It is difficult to tell the position of the arms of the rightmost figure, even at 2x.
The symmetrical shading on the chest (like the figure with the red shirt) doesn't look consistent with the other lighting (from our right and above).
I think the thighs should be one pixel longer and the shins one pixel shorter. The boot tops should be part of the shin length, and the shins should not be longer than the thighs.
I did a quick edit on the last figure to try and give it more form. Mixed results, I wasn't sure what to do with the backpack. I tried to outline the figures but use internal AA, as if the outlines were less than one pixel wide. This gets more pixel space (1/2 pixel in each direction) and keeps some of the outline for enhanced contrast. I'm not sure it worked. Maybe someone can point to a better technique for achieving this.

Tourist