Bring his wrist up some, elbow down some, and maybe make a fist with one finger pointed at an angle downward? Just stick your arm out and fool around til its comfy

I think the sprite version of that guy could maybe have his nose toned back by a pixel or so, its really crazy huge in the sprite!
I think the portrait is sweet (REALLY sweet), and the style of the game in general looks tight. There's some inconsistency in the detail though that could use some massaging - the ground seems really plain compared to the tree trunk, while the bricks and fencing seem very rigid compared to the fluid image of the tree - maybe add some more interesting lighting over there? I'd like to see one more shadow color on the leaves of the tree and bushes too, if possible.
Only one other minor gripe, in the portrait the thin yellow line of the seam curves in very smooth and round, unlike the actual silhouette with poof a little more and is more angular - it makes the shape of the hat a little harder to read. A couple tweaks there and you're gold

nice stuff!