My mother-in-law kindly made this Superman suit for a superhero party my son was invited to! Really quite easy - and the same pattern was used for my partner when he was a little boy!
1) Cape and Gauntlets (wrist thingys) - made from red felt, which I assume was washed first, as it was a bit thicker than normal. Red ribbon sewn around the neck of the cape, covering over the edge (if that makes sense) then sewn into a long ribbon to tie around the neck. Gauntlets = two bits of felt sandwiching a bit of interfacing, sewn around the edge (about 5mm) in straight stitch. Secured with velcro.
2) Blue skivvy purchased. Superman logo = red felt stuck on yellow felt, stuck on the skivvy with interfacing, and hand sewn around the edges in straight stitch.
3) red trackie pants - cut off to trunks and hem sewn...
4) ...worn over blue trackie pants (already had) and blue gum boots (red would have been better, but we had blue). He could have worn red socks had the party been inside.
So was this cheaper than buying a ready-made superman costume - around $35-$45? Probably just. But this is way cuter! And I think I can easily modify this to a Supergirl costume for my daughter in a few years, just by converting the trunks to a skirt! (Even though as a character, supergirl tanked, so I am told...)