Short history of this character - it's a Robin from a parallel dimension (known as Earth 2), where Batman has semi-retired, and Robin has taken over his role as protector of Gotham, and is literally trying to fill Batman's boots with this costume. The Batman costume is a classic, and you're not going to improve it by adding a bright yellow cape with a high pointy collar.

The Earth-2 Robin wore this outfit in several appearances with the Justice Society of America, goofy collar and all. When Robin would take a starring role in a Justice Society relaunch in the 1970's, he would get a more unique and flattering costume.

The Recipe

The Earth 2 Robin is made from a C3 Batman Minimate. His hair and wacky collar are made from Sculpey, and his face and chest emblem are digital printouts.