A very easy cosplay is Kuja from FFIX. All you need is a purple thong and some gauze...

No, wait.
Cosplay costumes don't need to be practical, functional garments. They just have to look like the real thing. Thus, you can fake some complex pieces of attire by using coloured carboard, or simply by attaching some cloth over a piece of cardboard that's the right shape. That'd work especially well for Sub-Zero's blue armour.

Other pieces of costume can me made by modifying what you already have, or can easily get. Black trousers and shirts can be found at a very low price in any opportunity shop; gloves and balaclavas are easy to come by.