Yeah, it depends on where you are...

What I wear on the coldest of cold days (single digits to teens)

Windstopper headband and Sugoi Helmet cover
My native sunglasses
A scarf if the wind is reaaaallly howlin
Mountain Hardware Link Windstopper Jacket
REI MTS Midweight synthetic turtle neck and underwear
PI Amphib lobster glove
REI Novara Tempest pant (with windstopper wannabe front panel)
Smartwool medium cushion snowboarding sock
PI Cyclone toe cover

New this year, I got a pair of lake GTX cycling boots for $9 at a REI garage sale.