Do you have an unflattering dress in your closet? Turn it into something you want to wear every day! All you need are scissors, elastic, and a sewing machine.
Lay your dress flat on the floor. (Doesn't it look hideous?)
Cut off the top part of the dress (with the sleeves, etc).
Turn the dress inside out.
Measure your waist and chest, and cut elastic so that it fits. On the top, fold the fabric over to hide the elastic before you sew it. Pin the elastic and sew the pieces of elastic onto the waist and top parts.