Characters can be created by crossbreeding from pre-defined body types, you can combine and adjust their body and facial proportions, hair-cut, skin and eye color, clothing, shoes, etc.
After you set and fine-tune all parameters you can publish the resulting model under a new name and download it including its textures in a given precision to a file in the .MB or .FBX format. The models contain also a skeleton and neccessary constraints for inverse kinematics (IK), so you can easily animate their realistic movements. You can directly read these models into the applications Autodesk Maya, 3ds Max, Motionbuilder and to other 3D software.
Using the Pinocchio-generated character in Autodesk Maya:
An example of 3D model loaded via FBX into AutoCAD and saved to DWG - ZoeCS.dwg
The technology preview version of the Project Pinocchio expires September 30th 2013. You can find more information on Autodesk Labs Project Pinocchio.