Easy, inexpensive costume to make. Takes about an hour. You're basically just making the wig. You will need to find/buy a red shirt and black pants to complete the look.
Step 1: All steps to make the wig
If you're making the costume for a child, buy a child size pair of tights. If you're making the costume for an adult, purchase an XL size pair of tights.
*cut slits for the Styrofoam balls when wearing the "tight tube" on your head. This will insure they're in the right place. You might need someone to help you do this.