Some of his parts look familiar.
I agree with the above plus, his new head should be abit bigger than the one on him. I think a hunchback would be perfect to stop him toppling backwards on those legs too. Also, some definition on his belly would be cool....even if it's a beer belly.
Texture I assume is rough. Seems too proceedural as it is. Good start though.
Of course, I know you're a good enough artist not to be discouraged by the path toward the finished piece.
Oh...also the bottom bit of his legs seem too long. When he raises them, they'll stick out past his knees. I'd also like to see more definition in the back of the hooves. I think real hooves have a sort of indent at the back of them (the gap in the horse shoe bit).
Also, some bumps on his skin.