Today, I ordered more of the red jersy knit fabric that I have selected for the inner side of the cape.
As before, I ordered it from http://www.trimfabric.com/. This time I ordered enough for three capes. Now that I've got my technique down, I'm ready to do it right.
Still a few steps in the process that I need to iron out, but I think until something better comes along, this is the fabric that I will go with for my final cape.