Bubba91 redrew the Caterpie that Imito designed, because... you know, her feet were missing. Then I gave it a bit of a coloring job. (elapsed time: 2½ hours)

I tried a couple new experiments while coloring and shading this. First of all, the hilights and shadows were created on two separate layers. This theoretically allows each of those to be more detailed, but unfortunately it actually makes it harder to adjust the shading later. As a last step, I told Photoshop to softly darken the edges of the character as an easy way to add a little extra counter-shading instead of doing the counter-shading completely by hand. Counter-shading tends to make the character look even more 3D. While shading this, I decided to have a real-time zoomed-out view visible. This allowed me to always be able to see what the picture would look like at the intended size even while I was zoomed in, so that I didn't waste too much time on details that would be too small to notice.

PS: PNGoo is great for making PNG images like this one, that have an alpha channel AND have a small filesize! We're not talking JPG filesizes here, but 67kb ain't too shabby for a picture of this size.