Are you talking about a hollow-cast large-scale figure? If so, a heat gun or hair dryer is your friend to soften the vinyl to cut it. You can use hot water, but it's cumbersome. Be very, very careful cutting. Always use a new blade and for God's sake, watch how you cut as there are 'hard' and 'soft' spots in the vinyl. An instant of inattention can rip a blade into your finger or hand and blood will flow - trust me, I have the scars to prove it.
Fill the feet and legs with Plaster of Paris or Durham's water putty. This gives them stability. Some will put a screw or bolt or rod in prior to pouring the plaster, but it could be added afterwards by drilling into the hardened plaster and securing it with five-minute epoxy.
The torso and arms need to be filled with crumpled up paper - newspaper (remember those?) are the cheapest. Since these are hollow figures and vinyl can be affected by temperature changes, this maintains the shapes. I don't recommend putting plaster into the upper torsos or arms - unless you want a seriously heavy figure. Joints are problematic, though most well-designed figures have 'natural' seams that don't require much filling. However, if you have to fill seams, you can't sand them the way you normally do metal, resin or plastic figures as the vinyl won't sand. Filling seams is more fill and smooth with whatever putty you like. Be aware that the flexibility of vinyl might cause cracking with the filler material.
It's best to mount the figure on a work stand, particularly one that turns, to keep from handling it because that could cause the filler material to crack. There are special vinyl primers - light coats are best. The best paints to use are acrylics as enamels and lacquers can cause problems with the vinyl, though once fully painted, a sealer like Dullcote can be lightly used.
These are the basics that I was taught and have used for a lot of figures. I haven't looked, but I'm sure there are YouTube videos that will have other ideas and tips. Vinyl figures are fun and different as they're subjects not usually covered by other manufacturers.
Have fun!