At JoAnn Fabric I bought 1/2 yard (1/4 for each color) fleece fabric, sheets of brown, black and white felt and two pairs of white gloves for $7.40.
Double the fabric, and trace a circle at least 12 inches in diameter. I had a mixing bowl that was the perfect size.
Now, for the next step I wish I could say I got all Martha but I didn't. I was going to sew the hats and have fun "make believe" toys for the boys' stash of stuff...but...
I hot glued all the parts together! Lame, but it worked! Glue the edges of the largest rounds. Flip "right side" out. Then, glue the bill, flip it "right side" out and glue to the edge of the small hole in the hat. You'll get the idea when you see the hats and read the blog I linked to!
Eli had a pair of overalls and I stumbled upon a pair of overalls for Turner at a local resale shop for $5.99. Top it off with two Granimals brand Wally World shirts for $3.50 each! Oh, and the brown felt is to make little shoe covers and attaching at the back with a hairband. We'll see if that works!
So, for about $20 I've got Mario & Luigi!