I looked all over for a nice Elf costume for my kids to wear- and the cheapest I could find was $25- for a one day wear-- way too much.
Here's what I was able to make for just $5.
1 yd Green Felt ($2.49/yd)
1/4 yd Red Felt ($2.49/yd)
Green/Red striped socks ($1 at dollar store)
Elf hat ($0.99)
Step 1: Determining the width
1. Lay the felt out flat with the fold (from the bolt of fabric) on top. This portion will become the shoulders of the costume.
2. Using a sweatshirt that fits your child- lay it out on the felt to determine the width required
3. Cut the felt one inch wider than the sweatshirt on each side