If I were to get one, I'd probably go for a hooded cloak or a cape cloak. Something that you can wrap around you, but also you can open up if it's too hot.

Alternatively, I've thought about getting a great kilt. It's versitile and can be used as anything from just a kilt to a cloak, and even as a tent. (Nice) kilts are already expensive though. It looks like a great kilt runs you around $400 minimum, maybe like $300 buying the fabric directly (which I think is pretty much all a great kilt is anyway).