Yes, but it would be incredibly difficult. First, you're going to need a good camera, then you're going to need a good computer or program that could pick out the alpha color, then you're going to have to deal with lighting and everything.
Then the "redrawing" part would be insane. You'd have to pick good colors and try to slap them on there in logical order.
You're finished product would look something like Primal Rage or Mortal Kombat or Killer Instinct or Doom. It's been done before.
You're better off just drawing the characters out. It just takes practice, patience, and confidence! :thumbs: