Try just using the pencil tool to modify the shape of the S. You wont get exactly what you want at first but the Smooth Tool (found underneath the Pencil tool shelf) will take care of that.
Just select the shape, then with the pencil tool, start drawing the desired modification. It will modify the existing shape instead of adding new lines that later need to be connected. Feel free to draw little additions at a time or just rough out the basic shape and fine tune the details and smooth out dense spots with the Smooth Tool.
You can double click either tool to adjust their settings if they feel too loose or too tight.
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