Find References
To set yourself and your character up for success, start with a little preparation, like any other project. Pull any references you might need and consider making a mini brief for your character if you need help setting up some parameters.
Create a Character Brief
Here is a free template brief to help you start making some of those details and parameters about your character.
Draw Sketches
It's now time to start sketching. If you are doing a humanoid figure, the anatomy is pretty simple. You will need a head, neck, torso, arms, hands, legs and feet. You can either start by sketching them in a pose that you want to see them in, an animation, or you can start by doing a t-pose or more of an idle stance to help with rigging if you plan on rigging it later.
Character Proportions
Consider the proportions of your character in the world in which they are living. If it is a more realistic world, then more realistic proportions are appropriate. If it is more carefree and a little more silly, then super long legs, a short torso, a small head with big hands and a very exaggerated anatomy would be more effective.
Shape Language
Consider the shape of your character in the limbs they have. For example, having more angular shapes could make your character seem intense or serious, while rounded shapes give your character the impression of being relaxed and carefree. It could even be a mix of both!
Also, consider how your character's limbs, hands and facial features are treated within your defined shape language. All these things are what to consider as you make your character's parameters or if you are doodling and having fun with it. Go wild and do whatever feels right!