Wowies! This is really sweet! (Forgive me for not finding a better descriptive word. ^^;; Getting over being sick) It does look like a panda... The leaves and twigs in front of his face are really well done.
Looks good for a photo copy, I suppose, but as I've mentioned before, they don't impress me a whole lot. In this case it doesn't seem as if the original photo was that great, so you could even improve upon your reference. You might try giving it a more outdoor lighting, cause right now it seems as if it's inside an artificially lit building or something. Adding more contrast and maybe some yellows and reds into could give a little more life.
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You did a wonderful job redrawing a photo, it looks like a real ! I wish I could pet him a little.
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This is really nice, I like the leaves as well.