Rayman 1 look is the best for me. I dunno why, since I usually hate cutesy, big-eyed things, but something about Rayman's first look really appeals to me. I also really like that old haircut.
The Rayman 3 look would have to be my least favourite. That design strikes me as trying a bit too hard to be cool, with the hood and whatnot. And also that smug, frowny-eyed look he always pulled in the pictures from that phase really... Eugh. The shoes were alright though.
The Rayman 2 look is 'Meh' to me and can wander between kinda cute and really weird. The Origins/Legends look is actually my second favourite, I'm not sure why, it's just very cartoony and lively.