I show you how to make an Irish style ruana or donegal cloak / cape / wrap.
I make this from 100% heavy wool loden, so it's warm and weatherproof. Got it on sale on aktivstoffe.de (not affiliated, get your fabric wherever.)
Still about 20€ for a running meter, so about 40€ for the cloak.
You could also use a surplus military wool blanked, you can pick those up for about 20€ on ebay. Try to get 100% wool one, like a Norwegian one.