I bought two dresses on the Old Navy clearance rack (of course) with the intention of turning them into skirts.
Project Dress-to-Skirt #1:
From this rather drab bathrobe looking dress:
To this cute lime-o-licious flower-embellished skirt. Even cute enough to wear out the next evening...which I did.
I used close to 98% of the original. After cutting it up, I used the ruffled straps for the flowers and had just a couple small scraps to spare. By the way, the waist band is elastic.
It was fun for summer and will be fun again when spring arrives!