Your two best friends for this project: Fabri-Tac and Heat 'n' Bond.
You'll also need an adult sized t-shirt (either one of your old ones or something from a thrift store works great), an iron and whatever scrap fabric and embellishments you want to use up. For templates, I used a bowl and a felt star I happened to have. But cookie cutters would also make great templates.
If you want to add a name to your cape, you'll either need iron on letters or scrapbook letter stickers.
Fabric Scraps: (I also pulled a clothing item out of the "donate" box for this project). Fabric is fabric! I like to look at my options together then make decisions quickly. It doesn't need to be perfect. Just cute.
First step-- cut the sleeves off the t-shirt. Cut under the collar in the front and then cut the whole front off.
So now you have the back of the t-shirt and the just the front collar remaining.
Trace your templates. I went with a circle for the background and a star in front. This picture shows where I ironed on the Heat'n"Bond. If you've never worked with it before-- it's very easy to use.
With Heat'n'Bond you iron on the "paper" side to activate the adhesive. After it cools off, you can place it onto the fabric where you want to adhere it to and run the iron over it again. First I did the circles onto the t-shirt then the stars on top. Then I dabbed on Fabri-Tac to secure any loose areas. I used scrapbook letters for the name.
This whole project took me about an hour. Happy Cape Crafting!