Fimo is one of my favourite materials to work with. It is soft, easily shapeable, never dries out, hardens in the oven at a low temperature so there is no need for a kiln (and it is cheap!) It comes in a variety of colours, but I prefer to use just white, and paint it after hardening. The paint offers an extra layer of texture, and it can be blended and shaded in a more subtle way.
This old man puppet was created for a stop-animation that I never ended up making. His head, face, hands, buttons and shoes are made out of Fimo. Because he was going to be used for animation, his arms and legs are made from armature wire, so he can pose in different positions. His clothes are made from one of my old t-shirts.
I still don't have a name for him. Although I think he is a sort of Old Man and the Sea type.