Are VBOs in OpenGL ES 1.1? They aren't in 1.0 so I'm assuming you're talking about some sort of extension mechanism? If memory serves, in OpenGL there are API extensions and vendor-specific extensions. I hope that VBOs are in the former category to provide less of headache for developers that wanted to use the feature.
Vertex buffers work for skinned characters too. You just need to be able to pass in vertex blending weights and perform transformations on the bones by changing their individual matrices. The vertex data doesn't have to be touched by the application and can remain in dedicated GPU (video) memory. I'm guessing that OpenGL ES doesn't support any of this though (maybe through an extension?).