Hmm. Timber Wolf D?
If you want to make it easier on yourself, you'll want to erase the pencil shading, either by hand (a pain, I know) or with a photoediting program (I just use Paint for things like that, then I paste it into Pshop.).
Then, use your magic wand (w) to select various parts, and simply color over it. I like to get down the basic colors first, then shade over it. But I am a mere Pshop newbie myself, I haven't quite learned how to play with layers or displacement maps (but displacement maps GOOD)...