If you've rehaired ponies before then you're most of the way to making your own custom pony.
A simple custom would to be a symbol and eye repaint with different hair. Slightly more time intensive is a full body repaint (FBR). Sculpting/sewing clothing or things would be a step farther than I feel you wish to go.
If you don't want to do an FBR then I suggest you find a base pony of an appropriate color and style to your overall idea. His hair was almost always short so you may think about using yarn for the hair. It can be brushed fluffy and trimmed to an appropriate length. The facial hair he seemed to have could be done with flocking or paint in the final stages (or some combo for coverage sake). The cooler of the two Paul Walker ponies I can find on Google is a ponification of his green car [search : Paul Walker mlp]. I think the orange one would be both cooler and easier to find a base for so that's my vote.
Just use your imagination and have fun.
Welcome to the MLP Arena! 
Guests: 706
Hidden: 0
Users: 7
