The main character is likely Chibi Zero. There could be an antagonist, a powerful dark wizard perhaps, who tries to stop Chibi Zero from achieving his goals. And there may be a mentor figure, an old wise creature that teaches Chibi Zero important skills.
Yes, indeed. The Re:Zero manga exists and presents the story in a graphical format. It might have some differences from the original source, but it still captures the essence and excitement of the series.
One interesting story could be about Chibi Zero's adventures in a magical forest. Maybe he discovers new creatures and has to solve puzzles to find his way out.