I bought this dress at a random Adam+Eve sample sale in the Chelsea Market in NYC two years ago. It would normally retail for about $300 (it's cashmere, wool and silk) and was selling for $25. I had to buy it--even the material alone would cost more than $25.
But I never wore it because it didn't fit well and was waaaay too revealing. My sewing teacher: "Well, modesty might not be an issue for you." I told her no, I hated it, let's do something with this. So we decided to pull the band up over the chest to cover it, cut off the bikini-like top, and turn it into straps. Voila. The before, and the after.