I'll get right to it. My favorite protagonists are Naruto, Gaara, and Kakashi. I like Naruto because he never gives up. There's no doubt he will be the Sixth Hokage! He's awesome. Gaara is pretty awesome too. He sand abilities are amazing. He's also has a crazy side, which I absolutely love. He's also hot. Kakashi is a talented ninja, and he seems to be one who defies the odds. Kakashi was also responsible (along with Jiraiya) of keeping Naruto safe and helping him develop. They both have done an excellent job of this. Plus, the Chidori is freaking awesome. There's no doubt about that!
My favorite villains are Deidara, Kakuzu, and Itachi. Deidara is a lot of fun as far as I'm concerned. He is quite skilled. Even though I disliked him for kidnapping Gaara, his who fascination with blowing shit up more than make up for it! Kakuzu is also one of my favorites, because he's understandable. We all have thought of killing people who piss us off. I felt sorry for him though. He had to put up with Hidan. (By the way, I love how Hidan was "incapacitated".) Kakuzu, more than anything, was terrifying, and what's not to love about a terrifying figure who collects hearts? That's pretty effing sweet in my book. Though his methods leave a lot to be desired, Itachi ultimately wanted to protect Konohagakure. I think the slaying of his clan was over-the-top, but he did it so that he could make a name for itself and seek the destruction of Akatsuki from the inside.
My favorite fallen heroes are Jiraiya, Hiruzen Saratobi, and Minato Namikaze. Jiraiya, of course, is awesome! He's the pervy sage after all! He also protected Naruto at the risk of his own life and taught him many great things. Then there's Hiruzen Saratobi, who risked his life to save the village from Orochimaru, who is the character I always hated the most. He may have been old, but he was powerful, and he understood that the children were the king. Minato Namikaze made a difficult decision. He chose to instill a monster inside his son's body to protect the village. Even though that act was the cause of great pain for Naruto, it was the only way to stop the Nine-Tailed Fox Demon and protect the village from future threats. Naruto also carries with him his father's determination, and while Naruto's intelligence is downplayed, he also has his father's intelligence and skill as a ninja even if he doesn't always show it.
I have leave favorite lists too, but it's too much effort. However, I can name the ones who come to mind. My least favorite villains are Orochimaru, and that whiny bitch, Sasake. As far as protagonists, I'm not fond of Kiba. He's an arrogant prick. I was glad when Naruto kicked his ass. Of the fallen heroes, I have no least favorite. They all died with honor.