I have some concrete statues of frogs, etc that I want to repaint.

I always use exterior latex paint

sand off the lose paint. Repaint and seal with epIcy.

use a stiff brush to get off old and peeling paint then spray paint with Rustoleum outdoor paints

There is a specialty paint for use outdoors on things like your frogs.. it is called "Patio Paint" I have found it at Michael's, JoAnn's and at Amazon

it is meant to be outside and hold up well in full sun with minimal fading.

Once you have a lighter base coat on I would use a sponge to apply the darker colors (I buy a cheap car wash or tile/grout sponge and tear pieces off) use paper plates or squares of foil to sponge from and a piece of card board or newspaper to "blot" off excess. Don't forget the sealer to add shine and "sun screen" for your critters.

Use an outdoor paint whatever you do. You can fix cracks and such with an epoxy. Sand and then prime and use an outdoor paint.