I love Audrey Hepburn, and if you like her even remotely then you have seen her classic cape. If not, there is a picture below. I love this look, so I decided to recreate it, and put my own twist on it, by adding sleeves.
All you need is fabric (I used tweed because I want to be able to wear it in the winter. However any fabric will work, although you may have to line it.), a few buttons, and bias tape (This is optional, I ended up leaving my edges raw).
Fold your fabric is quarters (You will need 1 yard), then in the corner measure 4 inches and cut a semi circle with that radius. This is the same method we use to make a circle skirt.
Measure from the neck hole down (This measurement should be the measurement from your neck to your wrist + 2").
Cut around with the radius of your neck to wrist measurement.
Open up your circle but keep it folded in half. This step is optional but I wanted mine to have sleeves. I pinned across and just estimated. Make sure you don't pin too close on the chest, these sleeves are just to give it some form. Sew a line from the raw edges, inward.
Cut the center to open it up to the neck.
See the sleeve opening?
Sew two buttons on one side, and cut button holes on the other.
You are done! If you do it out of any other fabric you will want to use bias tape on your edges and probably line it, but using a heavy fabric like I did, I didn't have to worry about it.