Love the lighting on the bubbles here, and the shadows on the Moogle as well, as always you don't dissapoint. Love the way the Moogle looks, its done in such a way that makes the little guy look true to his video game counterparts (particularly Kingdom Hearts) while keeping your own flavor in the way he's portrayed. Love the background with the watercolor spatters and streaks. theres even a semi-transparent crown, which is a lovely little touch. Its just close enough to both fill space, and fill the space.
There are only two things I have questions about, and really, they are minor. The first is that little tail coming off the bubble the Moogle sits on. If you were trying to get a bubble while its in motion thats fine, but there's usually a lot more coming off of a bubble at a fast speed than that. The second is the weight issue again. Again I see you doing the bubble being squished up a bit, but when having a character heavier than a bubble, have it so that he sinks in slightly. If the moogle is lighter than the bubble I do get it.
As always really great, just may need a little, and I mean, little tweaking.