If you look at my creation you can see my models of wallace and gromit.http://www.wallaceandgromit.com/creations/view/11934 They are pretty much all newplast plasticine but if it was all plasticine it wouldnt stand up and it would fall apart. You may have seen the armatures that aardman use but it doesnt have to be nearly as complicated as that, i just use wire.
My wallace is about 9 inches tall but you can try making one smaller at first. To make the models just watch lots of wallace and gromit to observe closely what they look like and look at pictures.
Newplast do every colour you will need exept for the brown. These are the colours: 'Red', 'green', 'flesh pink' and finally 'stone' for gromit. To make the brown for wallace's trousers and gromit's ears and tail just mix red and green newplast.
I use glass beads for the eyes, not plasticine.
Hope this helps