Wow, I actually followed through for once. o.O
So here's how I made my hobbit vest using a baggy old shirt discovered in the depths of my closet. I tried to make sure everything was spelled correctly and made sense, but unfortunately Photoshop doesn't check for things like that - so I'm sorry if I missed any.
Disclaimer: this tutorial assumes you know how to do basic sewing. You should know terms like seam allowance, and straight stitch, and um, sewing machine. I don't really go into detail about sewing buttonholes or hems mainly because I'm lazy, but also because I'm really bad at explaining technical stuff like that - so hopefully you understand those things. If you have any questions or I somehow managed to leave out some major part of this tutorial, don't hesitate to ask/point out my shortcomings.
Also, if you do end up using this tutorial or are at least somewhat inspired by it, please link back here or at the very most send me a link of your creation. I would love to see everyone's lovely vests!
Edit: Ah! I'm so sorry, but I just realized that all those times I said straight stitch, I really meant stay stitch. Sorry if I confused anyone.