oh, this is great! i like that you didnt bring use any real contours with his hair, as most other artists did. plus, the red blanket is very nicely shaded and decorated with that little whirlpool-like pattern. i also like how you did his skin, it gives it sort of an oil painting look.
this has indeed been commented on already, but i think you did a very nice job to his nose and mouth, but i too, think he would've looked better with the nose only. part of kakashi's appeal is the mystery behind his face, i think. as a final comment, i think the left ear is a little too "dark", that the contour is a little too black or thick.
well, its a great colour and i love it... ^^