I have made probably 25 of these capes over the last few years. They are always a hit with kids.
I like that the pattern comes in multiple sizes-- the one pictured is in the smallest, toddler size. Instead of sewing binding around the edges, I sew the 2 layers of costume satin RST then turn and topstitch. I use bias tape for the neckline & tie.
Note here that the applique is a bit puckered. I used heat n bond plus stabilizer on the back, and that still wasn't enough to keep it from slipping around on the cape fabric.