-Felt in whatever colors you need- Michael's has a pretty good selection (remember to buy extra, just in case).
-Boots/sneakers (they should be comfortable, seeing as you're probably either cosplaying for Halloween or a convention- both of which imply a lot of walking and standing)
-A hot glue gun with clear glue sticks
Okay, let's begin. The best way to get your hoodie is at a thrift store- most of them sort clothes by color, so it'll be easy to find in the color you want in the price range everybody wants*. Wash your hoodie, especially if you got it from a thrift store. Stretch it out over a flat surface so that it's easy to position your pieces of felt and glue them. Cut out the large pieces you need first, then the smaller. Position the pieces, then glue them down one at a time (Don't worry if you get glue in the wrong spot, that's an easy fix, here's the link: http://www.geeksonhome.com/how_8153111_hot-glue-out-fabric.html). Then you're done with your hoodie!
Now that your hoodie is done, your cosplay is nearly finished! Now all you need are the final touches. The jeans are as easy to find in thrift stores in a low, low price as well as the hoodie. The shoes are trickier to find in the color you want, so be willing to compromise a little. Just put it all together and you'll have yourself one EPIC cosplay!
This cosplay cost less than $30, and it turned out pretty good, if I do say so myself.
Here it is!
*Make sure to go to at least a couple of thrift stores, each one has different things than the last.