I would imagine the most they would do is a Little Mac skin. Hard to think of a distinct moveset for Hitmonchan that isn't basically Little Mac's moveset.
There was already an Ashley over lucas mod a few weeks back, looks pretty great, but Ashley's model is stuck to being angry (meaning her eyes are always red and hair white.) and the grab doesn't work. Maybe in time we will see a fully playable Ashley mod, maybe even with her own custom moves!
And we need Mario mods, that makes him OP, or a Waluigi mod that isn't over Bay.
Personally I want a Pac-Man World based moveset for Pac, just because that game's lack of representation still bothers me. ((Let alone the lack of anybody having unique custom moves besides Mega Man and Palutena.))