i forgot to mention, sorry, but the animation syddenly stops, it really dooesn´t look smooth. you shoud diminish the last frame a bit,.

 

EDIT: lol, i forgot i could edit. sorry =S

i think the hair should be a little more worked on (the animation)

the boobs shouçd move in a circular motion, i guess,

the right hand (our left) could change a little.

and the feet could move, they don´t at all. otherwise, it´s very cool. ^^ (and you have a fine taste for clothing.)

I´m doing a game with people from my class too haha. but it´s an RPG.

The skirt waves a little to much, but overall I like it.

Making a fighting game with people from your class... sounds like a funny idea, but considering the school shootings over the last years (have there been any lately in the States?) it's a little creepy... should be a funny one, at least.

You did a great job on the dress. I would like to say though, that the wrists and ankles could use some work. The feet are kind of pigeon toed. In most fighting games female characters faces are rounded more to give it more of a feminine look. This is pretty cool looking.

The foot looks kinda broken?
Theres a white dot that appears on the wrist, last frame i think.
Movement is kinda of jumpy, looks like a bit of spasm.
On the Skirt part, Id suggest extending the middle shade out a little more and take away some of the dark shade, may be wrong though.
The thing on the uh...right.. hand looks weird.
Although, this is a very good start for a well done sprite.