Some more, though older, edits. Hope they're still good.
X-O Manowar, the more recent version from Valiant's newest incarnation.
Made using a whole variety of sprites, though primarily Captain Commando, Iron man and M. Bison.
Britannia from DC's Flashpoint event.
Made using an even larger variety of sprites. It was VERY complicated. Wish DC would've kept her around, really liked her design and storyline.
Amano Jyaku from the infamous 'Legend of the Overfiend' animes. ;p
Made using Joseph Joestar, Strider, Guy, Akuma and Chun-Li parts.
Engineer (Alien/Prometheus)
Got a wild hair earlier this year, and tried to make a sprite based on the hulking tall Engineers from the movie Prometheus, only to try and make it look like it could've fit into the old AvP arcade game era of sprites. Primarily used SF2-era Sagat and Xenomorph parts. He's appropriately big compared to the other AvP arcade sprites. Still a WIP edit.
Inhuman Torch
This nasty customer comes from the short Human Torch mini-series from Marvel and Dynamite Entertainment, back before Marvel decided to constantly change stuff/inject Inhumans into everything. He was basically meant to be the evil mirror counterpart to Golden Age Human Torch, Jim Hammond. His design was very striking, yet very simple.
Made using Urien, obviously. ;p
Ikon, the Space Knight
From back when Marvel still, technically, owned the rights to the Space Knights. They still might own Ikon... i don't know. Anyway... I liked the concept of the Annihilators, and found Ikon's design and concept to be VERY cool, so I tried to make a sprite for her. Using Marrow sprites primarily, and Sonson's staff. Crafted her spearhead from various different katana blade sprites and put it through a photoshop filter.
Ryoko (Tenchi Muyo)
Loved Tenchi Muyo growing up, and Ryoko was easily my favorite. Tried to make a sprite for her using Morrigan, Chun-Li, Storm, and an old Ryoko sprite from a 16bit SNES strategy/rpg based on the franchise. Would've loved to have made a fully mugen-capable character.
Doc Savage
Love me some pulp stories, and by far one of the coolest characters from that era was Doc Savage, the Man of Bronze. He was like Batman before there was even a Batman, and he's the guy who's Superman's owners knicked the Fortress of Solitude from.
Had REALLY tried to make this a mugen creation... got decently far... just lost my oomph and whatnot. Made using Urien, with the boots of Rolento.
Max Thunder (Streets of Rage 2)
Had another wild hair one day, and decided to try and make a sprite for this Streets of Rage bruiser. Using Chadha from that 'Yatagarasu' game, and mixed the head of the Monk from Martial Masters with that of Cody.