Total cost: One new spool of thread. Awesome!
It's made from painters canvas. I soaked the canvas in black Rit Dye for 30 mins before washing and drying it. I then coated it in a 50/50 blend of melted beeswax and paraffin and ran it in the dryer inside of a canvas sack to melt it into the fabric. Sewed up the pockets, added the straps, and there you have it.