I actually did this one awhile ago, more to see if I could make a figure without sculpting or painting on the figure itself. I was going for a look reminiscent of the Army of Two style armour for ol' Crossbones, with the body armour and mask are made out of foam. The elbow pads came from a WWE figure, I think.
At some point, when I have the time, inclination or sculpting materials, I'm going to do an update to the figure.