Frankly i would take that picture and blow it up then use that as a pattern to cut out of a sheet cake.
I'd attempt to make it a 3D (more $) instead of 2D. It would be very impressive. The beak could be made out of something non-edible so it would be light.
Post pics when you are finished!
id think something similar - it might be a case of cutting the bits out separately - arms, head, leg, torso - and sticking them together, maybe that would be less waste.
Me again.....so I attempted to make it with the mini 3d bear pan came out really cute BUT how do I make that beak????