If you have to mold smaller elements like missing finger tips, toes, noses or flower petals a 2 part epoxy plumbers putty works very nicely. It requires no additional adhesive, dries to a rock solid repair, is very strong, cheap, and is easy to mold like clay. Just cut off the desired amount with a butter knife, mix it between your fingers till it is a uniform color and attach it to the statue in the shape you desire. The only drawback is that you only have a few short minutes to mold the repair. Once it is completely dry (about 20 minutes), it is easily sanded and painted to match the surface of your project. Plumbers putty is available at most home improvement chain stores or local hardware stores for under $5.
Epic Restorations Statuary Maintenance & Repair Artist, July 2010