I decided to take this gigantic hunk of fabric and turn it into a shirt that I might actually wear.
In short, I wanted to make it unrecognizable.
I think I did.
This garment has two cinched sections (on the back/sides), a corset back, a sweetheart neckline, and rouched shoulders and front.
Step 2: Cut some bits off
Cut off the sleeves.
Cut off the bottom hem.
That means the only original stitches left in this garment are the shoulder seams (and maybe side seams, if your shirt has those). You have a giant tank-top with a ridiculous neckline.
Even out that neckline so that, even though it's huge, it's a smooth edge; remove any weird pointy parts left over from cutting out graphics.
Step 3: Make the sides cinched
On both sides of the shirt, measure in two inches and mark a line. Sew a straight seam up the line.
Press the tube you've made open. Press it down in the middle, and sew straight up, turning your one tube into two adjacent tubes.
Repeat on the other side.
Remember that hemline you cut off of your shirt? Snip it open at both sides. This is your drawstring for the two sides. From the bottom of the shirt, feed the cord up through one of the tubes, then back down the other one. Choose your desired level of cinch, then tie at the bottom. (For a more finished look, sew across the cords and tuck the ends back up into the tubes.)
Step 4: Roucheing front and shoulders
Repeat this process on the front of the shoulders. This should create the sweetheart neckline effect.
Step 5: Corset back
Cut off some rings of sleeves, cut open and sew together to make more cord.
Thread corset strings out through the top holes, then back through the second holes. Cross and repeat.
Tuck the ends through the tied loops at the bottoms of the cinches.
Step 6: Finishing touches
Alternately, don't sew together and tuck the flaps away for the punkier look pictured above.
Cut off the bottom in a half circle to avoid the 'bum roll' look.