I thought this was a decent art picture. I have seen some better pictures of the Street Fighter characters (girls at least). This was pretty cool to look at, because you made it look kind of silly. I kind of doubt that was the intention, but that is kind of what happened. I like how each and every one of their muscles is just bulging out of their costumes. The breasts and butts especially show that.
I wish you would make a Street Fighter flash or at least something showing these girls. Chun-Li's foot seems to be bending at a level that would break it. Of course, you should rarely want to apply logic to the fighting styles of these games. I don't even remember Elena from the games. She looks more like a female Dhalism.