Erin what is the poly count for that models, how big u want the texture to be and can we use one or more textures on one model?
Considering that the current character is based on a lot of spheres, drawn with gluSphere, the number of polygons seems not to be very important. I think, 100 - 300 polys should be ok. The same with objects on the course. Sure, in the future there will be collision detection with all objects, but there are ways of optimation. At the moment I can't say how to parse and render the models, probably cousteaus code will be used.
It will be the best to use only one texture. The texture can contain the partial textures for all polygons. With a clever uv mapping a lot of texture parts can be used for several polygons. Ant the size? That depends on the model. For simple models, watched only from the far, 256 x 256 should be enough. Mode detailled models, especially Tux himself, should have textures with higher resolution (512 x 512 or 1024 x 1024). Of course, the size should be power of 2.