I have two characters that I'm working on designing new costumes for. The first is Dark Link, because it has a lot of potential but in the games he's never anything more elaborate than an all-black palette swap of Link. I see him turned into, basically, "goth Link" in a lot of fanart, so based on that I'm working on a design of him, with a custom sword and shield. I don't have a decent sketch of the costume yet but here are the accessories.
And shield (with color! and quick Photoshop attempt at simulating crackle glaze)
The other is Magus from Chrono Trigger, because Magus is awesome but I hate his costume. I've seen a lot of awesome fanart of him with different outfits and done several myself, but the one I plan on eventually cosplaying is pretty close to his original outfit, minus the ugly. Here's a crappy sketch!
For that one I'd also like to make a Prophet robe, which could be whipped off for a dramatic entrance, heh.