I purchased 12 Peepers from Axtell when I ordered Behemoth to use as filler background characters.  I then decided to use them as technical crew members; thinking that the guy in charge of special effects/accounting is just my hand with as set of Peepers would be a lark. At the time I was going to take an athletic sock (long white) and just cut the foot off, slip it on my forearm, and put a small tie on it.

I thought they must produce a sleeve with a suit pattern somewhere, but my search on Amazon (novelty socks) had a few things close but not quite good enough.  I did a search on stockings as well which led  me to those tattoo sleeves, which led me to compression arm sleeves.  They actually have a wide selection of styles; though no suit designs.  So I found inspiration for a new idea.  They have a lot of super hero designs as well which would allow for a low budget superhero spoof.

Though I did not find what I was looking for I believe I can take a base (solid color) design and add a suit design by hand.  It's funny where you end up sometimes...

I actually got frustrated with looking years ago when I was trying to create costumes. Just started making my own. Have you evver watched Oobie? It's a preschool program, but they do some really cool things with the peeps.

I've watched some videos with the Peeps before.  I really don't have the resources (or space) to make my own clothes for the peeps. 

I ordered 2 sleeves to see how they may work out. I also looked into some gloves to give them "mask's".  If the sleeves work I'll probably put together a video of Superhands! with Spiderhand, Bathand, Superhand, Wonderhand, Captain Amerihand, and a few others but you get the gist.

I work 70 hours a week which doesn't allow a lot of free time, but I'll make it work.

Interesting ! Where is OObie made?

These kind of puppet eyes can be found here in the market, very low quality, in the cheapest toys, but is the only place, I really like your idea of the super heroes

I'll try something with those if not, I'll make my own.

Good luck with the project!