Capcom has uploaded detailed guidelines on what kind of fan content it allows for its intellectual properties. They’re available on Capcom’s official website in fifteen language options (albeit with some regional overlaps).
Fan content that falls within the permitted guidelines can be uploaded and enjoyed without contacting Capcom. Capcom defines fan content as artwork, comics, fanfiction, games, models, music, cosplay photographs and outfits, and videos of its intellectual properties. You have to make it clear that what you’re making is fan content, so people won’t mistake it for something official.
Though Capcom prohibits people from making fan content to sell it, it makes an exception for hobbyists so long as they don’t plan on selling a lot or making a lot or money. It also only allows for people to sell figures or garage kits at events like WonFes. This is because Capcom has already given the legal okay for them. As a note, even if you follow all of the rules, you’ll still have to take down whatever you posted if Capcom asks you to.
Aside from the above guidelines, Capcom also has basic rules for what kinds of fan content you can produce. For example, you can’t make artwork promoting religion or politics, or slandering specific groups and people. You also cannot make anything that would damage Capcom’s image. These are the basic rules that most companies, such as Sega, ask users to follow if they want to use their intellectual properties for content.
You can read the full list of guidelines on the Capcom website.