Help with rubber clothing for a figure

Posted in Custom Workstation

I'm going to be doing a Link custom, from Legend of Zelda, and I have the base figure and head, but am lost for his clothing. Ideally, I would love to have a sculpting sort of material that become the rubber material used for capes, jackets, etc. Basically milliput/fixit sculpt/apoxie sculpt but instead of hardening to a plastic like material, it hardens to rubber. If theres nothing like that, then is there a rubber that would work well for this? Like could I buy some sheets of flexible rubber? And finally, if neither of the two are to anyone's knowledge, are there any good figures that would work well for this? I'm looking for rubber similar to that of the Lord of the Rings figures.
Thanks!