This reminds me of when CBS was producing The Flash TV series. In the interest of keeping the budget down one of the execs involved asked if Barry Allen could just wear sweats or some kind of jogging suit for his costume...
Won't protect you against bullies? Sure it will! All you have to do, when you see them turning the corner, is whip this out of your backpack, and pull it down over your buddy's head. Helps if you don't give him a chance to put his arms into the sleeves, since that'll keep him occupied long enough for you to get some serious distance built up before the bullies actually get there.
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