A couple of things i've been working on.

[Trows]

I'm really not happy with the walk cycle, I might just scrap it and go less... generic.

[cat]

I like the walkcylce. Especially the slapping of the shoe when it goes forward looks very clownish. The only thing I would suggest is to change the size of the shoe when it is in the back-most position. It is too small now.

[abstauber]

I don't know if this is on purpose but for I circus-theme I'd use brighter colors. Your image looks like I imagine a summer scotland 

[IndieBoy]

I like the walk cycle, although the body moves up inside the shirt, but the shirt seems to stay at the same position. I guess the walk cycle is very rough as he doesn't have the same features as the clown in the picture or the same shading.  Also I have no feeling of depth in your picture, it seems very pillow shaded. Maybe as suggested, use a little more bright colours. Especially the objects/characters at the front of the screen.

[DanielH]

Took me a couple of minutes to see the name of the circus... :o

[IndieBoy]

I guess this was some kind of prank then....

[Trows]

I guess this was some kind of prank then....

Nah, pretty much the day after I posted, my motherboard pretty much exploded. 

The nature of the circus is fairly dark which is why the de-saturated colours, but i'll give it a go with some brighter colours. My main problem with the picture I had was the lack of depth, more variation in colour should help fix that.

When I can, all try and add some more movement in the shirt, and fix up some of the irregularities in the width of his arms and legs, as well as the size of his shoe. As well as some other smaller details (the nose and hair bouncing a few pixels)