Ultraman is one of the most recognized characters to come out of Japanese TV. The super-powered police officer who fought intergalactic monsters set the tone for many action series like the Power Rangers. The costume the character wore has a number of different components but they can be varied according to the materials available.
Start with a gray or silver body suit. If only gray is available, dye the suit silver.
Add red detailing to the silver suit. Add a U-shape across the chest with a single bar running along the sternum. Add red lines along the back of the arms and around the elbows. You can apply this with red dye and a brush.
Add a circular brooch with a blue-green stone circled in gold and attach it in the center chest using metal-to-fabric adhesive. If you cannot find a real brooch, make one from colored paper or paint the design on the suit.
Slip a pair of red shorts over the body suit. Biking shorts will work best.
Complete the costume with a pair of silver gloves and boots. Color the top edges of the boots red either with paint or a permanent marker.
Use duct tape to attach a triangular cardboard fin to the top of an inexpensive plastic helmet that will cover as much of your head as possible.
Apply papier-mache to the helmet. Dip pieces of torn newspaper in a paste/water or flour/water mixture and stick the pieces to the helmet. Add about three to four layers and let them dry.
Paint the helmet and fin using silver spray paint.
Use silver face paint and white or yellow goggles to complete the costume.