I saw a cool little video sometime (sorry, I can't find it again) of how to make a character walk in 5 minutes.
1) Get the feet moving back and forth
2) Move the feet up and down
3) Move the body up and down
4) Swing the arms
5) Add little details to spice things up a bit (head bobble, shifting weight from side to side, etc.)
1) Get the feet moving back and forth
2) Move the feet up and down
3) Move the body up and down
4) Swing the arms
5) Add little details to spice things up a bit (head bobble, shifting weight from side to side, etc.)