Microsoft proposed a format for color fonts entirely based on vectors. In Glyphs 2, you can create and directly export such a color font. Here is how.
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With Glyphs 2, creating layered color fonts is a snap. Read here how.
There are many approaches to finding your letterforms. Many designers like to do a manual sketch first, and then digitize it. Here are two ideas to get you started.
In a script font, you need a bunch of alternative glyphs for certain positions, and the right OpenType features to trigger them when needed. Read on how to do it.
A quick and easy introduction to turning your icon set into a webfont.