Most costumes come straight out of the inventory. The cape waits for a Level 1 workbench, so it is not something you re-sew at a sleeping bag in the woods: craft it at home and keep it in a box until the Halloween run. Only players who own it on Steam see the recipe, and there is nothing to research.
The cloth is pocket change. The two sewing kits are not: they come from road loot early on, and later from a Level 3 bench and rope if you craft kits yourself.
When the night is over, recycle it. The cape hands back half the cloth and a kit, so the next one costs a single fresh kit.