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In terms of Figma/Figuarts style, we're much more likely to get the Squid Sisters than a player character, I think.
Player characters in those styles, realistically, would be Blue Squid Boy, Orange Squid Girl, and Green Squid, like the Amiibo. There are additional promotional characters that have shown up multiple times, but I doubt anything would ever come of that.
I think the best bet would be model kits. They can start with the Amiibo kids and push out the various other promo squids one by one. There'll be enough diversity of skin and ink colors for someone to cobble their preferred Inkling from stock kits, and anybody wanting anything more specific can paint them. Plus, additional weapons can be released as add-on kits.
They don't have to be super big, and they aren't complicated characters, so they could be pretty cheap too.
