When smoking my meerschaum can I touch the bowl? It is an estate pipe and already showing decent color. It seems a little awkward to be holding it by the stem.
With my first meer, an old acquaintance recommended that I handle it with a cloth the first two or three times I smoked it. This was to avoid unwanted marks or stains. Now that I have several (having forgotten about the cloth), I'm not sure it matters if one is careful.
As long as your hands are clean it shouldn't be a problem. The wax on the outside will heat up and could collect some finger prints but other then that you are ok. I usually gently hand polish my Meers with the inside of my t-shirt (after I have wiped the inside of the bowl with a paper towel) after every smoke. Prevents any ash or other dirt from sticking to the outside and gets rid of the finger prints.
I don't care much for figural meers. I have a couple I smoke occasionally. With these the fingerprints would be less obvious and my method above awkward if the carving is very intricate. With these I usually just used some compressed air to blow away any debris and leave well enough alone.
I don't buy into that "you can't touch the pipe" crap. I hold mine just like I hold my briar pipes. As long as your hands are clean you're good. I think the oils from your hand will add to the coloring of the pipe, but in a good way.