What kind of paint do I use when I want to cover a concrete statue?

The best concrete paint is an acrylic latex and a solvent based paint (oil-paint). I would probably select an acrylic latex. They are easy to tint to the desired shade, and you can repaint them with relative ease when the statue starts to look shoddy. "Oil" paints come in various resin types; alkyds, acrylics, alkyd-modified acrylics, silicone-based alkyds, and polyurethanes. Each has its own set of advantages and disadvantages. No matter which coating you select, I suggest that you read the vendor's instructions for surface preparation, sealing, priming, and topcoating. I hope your work of art comes out awesome!