So I've been looking around at various leather bar tapes and wraps and it strikes me... Would it be that outlandish and/or insane to just get a suitably sized long strip of leather and wrap it around my bars? Perhaps shellacking or something on the top to keep it looking nice, or some sort of glue on the bottom to hold it in place? Has anyone tried this? Would it be totally unreasonable? Or perhaps just stupid and cheap?

No.

That's a viable option.
I have thought about doing something like that. Using leather wraps for tennis racquets. but found that those aren't cheap either.
but I've read from somewhere that people have cut up thrift store leather jacket into strips and wrap their bars with them.

I've got an entire gray automotive grade cowhide that I've been wondering the same thing about. If I remember I might actually try it out this weekend.

Right now is spring clean up time in Sunnyvale (CA). I have been seeing a multitude of sorry @ssed couches waiting on the curb for pick up. Typically the back sides are in excellent shape, it is the front and cushions that are shot.

A sharp pocket knife or razor blade would fetch you enough leather to wrap a couple of bikes. Just be aware that some leather couches have vinyl backs, but it wouldn't be but a moments work to find out.

Just a hint from a guy who has wondered what he could do with that leather!

I cut up an old leather backpack into strips to make grips on my St. Etienne. I then coated the leather with a few layers of shellac. The result is a bit rustic, but it fits the bike, I think.

Neal

When the Inuits need a long continuous thong for this kind of thing, they skin the whole walrus around in a spiral starting at one end and working towards the other rather than taking the skin the usual way in a big round piece and then cutting the spiral out of that working from the perimeter to the center. It gives you a nice straight piece rather than a curved piece.
I've considered using one of those steering wheel covers from an auto parts store.

I have the very stuff which was supplied by a CR list member (Tom, I forget his last name) who periodically commissions a family of Amish harness makers to cut the leather to his order. He usually gets it in 3 colors to match the Brooks saddle colors. It's very nice stuff and well finished with skived edges (those harness makers know their craft) and is very long...longer than most of what you'll ever be able to cut from leather cushions or jackets, and it's not the thin stretchy leather typical of garments and furniture. I wouldn't shellac leather, that seems like it defeats the purpose.

I stopped by a leather shop and picked up scrap pieces to recover a saddle. Depending on the leather it was around 5 or 6 bucks a half pound. You could do many, many bars with just that piece.

I shellaced the pieces I used for grips because the edges weren't skived. The shellac nicely covered that up.

Neal

My friend Tom did the thrift store leather jacket thing. It looked OK, except the seams kept the wrap from being as smooth as it could have. Some shellac would probably make it look alot better.

I'm want to at least try this. Will post fotos of results assuming I actually get the motivation to do anything.

Sanders.