He Man Torso presto-change-o : Pop off the arms and head, then saw off the shoulder plugs (not sawn off in pic!). Also snip the leg bands as the legs get in the way.
Using a thin bladed knife (but quite strong) crack open the torso by inserting the tip into the body seam from the waist up to the shoulder, then from shoulder to neck. You then need to saw through the four locator pins shown in the pic, and then use a wide flat-blade screwdriver to pop the middle pin. Pic shows Skeletors guts! Use pliers to twist out the middle 'shelf' and the centre pin. Pincers should take out the pin section quite cleanly. Try not to leave any sharp, raised edges that the banding could snag on later. Use model kit glue (Liquid Poly is one I used) to fix both torso sides back together. A thin line all around the seam is all you should need. This type of glue actually 'melts' the plastic and fuses it back together, so use a couple of rubber bands to hold it nice & tight 'til its set. With it now set, you can sand smooth the seam if it got chewed up taking it apart. Use a smal round stone grinding bit for a drill to widen the neck and shoulder holes - it should be about 11 to 12mm diameter.
Now, you can either glue on a waist ball from a DM body or a broken Fonzie OR there is an easier and much quicker way. Just use a Type 1 waist! You need to widen the torsos waist hole with a round file first, and then sandpaper to give a nice smooth edge. Be carefull here! Doesn't need a lot taking off! Test fit a lot.