While I initially started my project in Maya, I decided that Blender felt more intuitive to being able to sculpt my shapes the way I wanted to.
I started off with a basic body shape trying to to create a simplistic round form to work off of. While it works much better than my Maya attempts I feel like it was maybe a bit overworked and I may replace it later on.
Next I added the legs, trying to create a smooth, solid look while still making it long enough for a knee joint.
Next the arms were added using a similar process. While both the arms and legs are smooth for now, sculpting tools will be used to add a texture of wool puffs to them.
Then the base shape of the head was created with the snout and a ridge for the eventual eye holes. After adding ears, the part of the wool that mimics hair will be placed around the head.