I can't remember who it was on this site who inspired me to give this a try... If it was you, please comment and give yourself credit! This was a lot of fun to make, and even more fun to watch my daughter give it a test-drive before we gave it away to her friend at his birthday party.
I made the reversible cape with the help of the tutorial at Puking Pastilles. I used red fabric that I got from my grandmother when I helped her clean out her sewing room cabinets, a blue fitted sheet that I found at a thrift store, felt that has been sitting in a drawer since the beginning of time (as far as I can tell), and one new piece of red felt (only because the piece I've had since the beginning of time wasn't big enough for both appliques). I made my own pattern for the applique of Captain America's shield. Yes, for those of you in the know, I am aware that Captain America does not wear a cape (I don't think Captain Planet does either). Just pretend that you are three years old, and you want to pretend you are him... If anyone is interested in the pattern I made for the shield, let me know and I'll figure out how to get it up on my blog for you to print.
I used the cape itself as gift wrap for the other super hero themed items we found for her friend.