I made my costume for our cruise this June and it turned out really cute and was inexpensive to put together. Sorry I don't have a pic as it was taken with my cousin's camera that was unknowingly broken.
I took an old pair of jeans and cut them off between the knees and ankle, just about capri length. Then I cut them up about 2" long all the way around about 1 1/2" apart. When I washed them, they unravelled. Then I bought a very inexpensive white peasant top, and a piece of red and white striped fabric about 2 1/2 yards in length. I folded this and wrapped it around my waist, tied on the side with the excess hanging down. Then I bought some flesh colored ribbon, about 6 feet long and poked a hole right in the middle where I pushed through the feet of a stuffed parrot bought from Hobby Lobby. I hot glued his feet on top and underneath to make sure he stayed put. I also put a bandaid on the wire feet underneath so that he didn't scratch me. Then I sat him on my shoulder and wrapped the ribbon around my body under my shirt and tied it. This worked and my parrot stayed in place all night!
A pair of sandles and a bandana tied around my head with a big hoop earring finished the outfit.
Cost:
jeans - already had
fabric - $4 from Wal-mart
ribbon $3 from Wal-Mart
parrot - $4 from Hobby Lobby
peasant shirt - Bought mine off of e-bay but have seen them for about $9 at Wal-mart
sandles, bandana and earring - already had
Total - $20 and people stopped me to tell me how cute my outfit was! Maybe you can adapt these ideas to suit your needs.