I had to make a dress like this for a home ec project in 2006. I dunno what happened to the dress since I have moved and don't have a sewing machine of my own and my hand stitching is well not up to par for garments. This is what I remember. Sorry if the Tut is bad my first one.
First Take your measurements or hold up the fabric to yourself. With someones help mark or pin.
Remember to make sure you measure all around the top of your bust and under bust. Make sure its enough for the fabric to wrap around you.
Then lay the fabric on a flat surface. If you measured your self and the measurements to the fabric. If you have pinned or chalk marked, finish chalking the pattern giving you a seam allowance on the sides and Over the bust.
<---Should look like this.
Now pin Elastic to the under bust line and sew in place.
<-- Like Sew (he he I crack myself up)
Now do the same with the Over bust. This is where you have the option to add straps or leave strapless. If you leave strapless Pin and Sew your seam allowance over the elastic and skip to step 7.
If you add straps either use ribbon or make them out of fabric. You can add little doo dads if you like. After you make the straps, find out on the fabric where you want the dress to sit on your shoulders. Mark then cut two slits(red markings in pic) in the seam allowance and slide the straps through. Pin to elastic and sew ONLY FRONT part of dress.
Now fold fabric so the side allowances meet. Match your slits you made the last step now on the back of the dress. Slide straps through and fold seam allowance down and pin. Turn inside out again and sew right across the fabric like you did in step 4.
Now fold and pin the side allowances together and Sew closed. Then sew bottom seam as well. Now its done.
Decorate how you will. Add a belt or even sew a ribbon under bust like the store bought dress in the pic.
Hope my Steps made enough sense and if anyone makes one I would love to see.
<b>***Side note you can even shorten it to make a top even. So many possibilities its all up to you.