Back when I was customizing a lot, I made about ½ Wrestling figures and ½ Superheroes. Well as soon as Mattel bought the WWE license from Jakks, I knew I need a Hulk Hogan in the Mattel line.
I went with his “Hollywood Hogan” Look
Figure – Probably Hawk from Road Warriors (or Legion of Doom if you must)
Boots – Mattel Undertaker boots
Head – From a Jakks Boxset
Belt – Jakks painted with NOW
Boa – Pipecleaners
NWO shirt – From Toybiz Roaddogg Jessie James
Painted flesh tone and pants and boots with Testors.