So I'm jumping to the final product. I had never planned on painting this model. I was just going to apply a flat color to each part so there would be some differentiation between armor and mouse. This is what I did but with the mouse being completely white, I thought it wouldn't take that much effort to paint some of it. So the only parts I painted by hand where the pink areas on the mouse.
I definitely wanted the mouse to be white. When I imported the (by default) brown mouse from Mudbox into Maya, Maya changed it to white and I liked how that looked. Since the mouse was white, I made the armor be a darker gray instead of a more silvery color which might have made things appear washed out. The dark gray would also contrast with the silver needle and dime. I like the pop of color the ribbon has with the red. It wasn't until this point that I realized that the ribbon is like the thread on a needle.
Overall, I'm pretty happy with the end result. I could have made the armor more flashy or fantastical but I didn't want to go overboard. Plus miniature blacksmiths can only do so much.