Maybe the base of the tail could be thicker, or/and it be pointing up more, it doesn't look fully attached as-is. The arms look like the joints in them face the wrong way (like they are stuck on backwards) or like they are made of jelly, I'd suggest making them come down-left-down. I really like the texturing and the character :)
[EDIT]: I made a quick tweak regarding the tail and arms. Ignore my arms though, on second thoughts I do like your arm style, something very slight could be done with them, they just seem too parallel/backwards/like they belong to a different position of body. See what I mean about the tail though; img709.imageshack.us/img709/2078/lizardtweaked.png
Once again, love your character ^^
I like the useless arms. Combined with the sleepy eyes it really gives the lizard a helpless feel. very cute.
I'm sorry, but I have to desagree with the thing Mr. Lizard said about the arms, I think they are just fine, it's part of what makes this pixel art so interesting.
The pixeling itself is wonderfull. I really like it :3
Congrats on the awesome pixel art :3
Arms could need to be longer and more "lanky", other than that, it's a fine lizard you got there.
That is some amazing help. Thank you. :D