) due to an early cold snap convincing me to buy colder weather gear, a decision that I'm very happy with. So instead she talked me into making one ourselves. Two reasons, cost and customization... you'll notice the Buddy we used to model isn't exactly an off the showroom floor model. 
It was a 2 week long process, mostly involving me saying "I'll get to it..." The relapse of warm weather staved off my enthusiasm, with a sharp spike in willingness to work on it completely tied into the waning of said warm weather reprieve. It actually took 2 lazy evenings, and cost about $35 in materials. It was a fun little project and my gawd... it's made my commute so much better!
Details:
3 layers.
1-Black Duck Cloth
2-Insulative batting (I think this was originally intended for super duty curtains, there's a layer of foil inside that reflects heat right back at me)
3-Super soft fleece in a pattern that was just too tacky to pass up.
It's soon to be treated with Nikwax "Softshell waterproofing" /Nod to Kaos for that wonderful suggestion.
Adjustable belt closure and lower securing tabs for a bungee - later to be replaced by a cinchable elastic band.
Pics:
This is the underside exposed with the securing tab visible. 
Me wearing the blanket, pipe side view. 
Blanket resting on the Buddy for a better sense of the scale of it. 
View of the horrible fleece that I had to use cause... well, look at it, it's too tacky not to use! A warning about trying this at home, both my wife and myself have pretty extensive backgrounds in design and fabrication.
