This tutorial has been online for quite a while now but I wanted to bring it to your attention since it is not Youtube based but a forum thread.

http://www.conceptart.org/forums/showthread.php?t=18287&page=1&pp=60

Here are a couple of pics from the tutorial to wet your appetite. Smellybug does this thing for a living but why not pick up some hints and tips from an expert? And he is GOOD!

Concept Drawing

Building the Skeleton

Filling it in

Refining the Detail

Getting Ready for Baking

Painting

I left out the finished sculpture, you will have to read the thread for yourself. It is a great read!