Rain Gear
 

I purchased a poncho from the following store http://www.catoregon.org/hpm/swift.htm
The quality and workmanship is excellent and the price is right. Their stock colors are
Blue/Black or Yellow/Black. But if supply them with the equivalent fabric they will produce
a poncho in the colors of your choice.

Hopefully, here's a picture

The promise of a air circulation is alluring but you get what you pay for. I bought a much cheaper cape. It acted like a brake - catching the wind. The front bowed in and collected a pool of water. The cape hindered my hands and made shifting difficult. I find a good rain jacket and hood better.
Please give us a ride report after testing the cape.

Looks almost like you could fly with that thing. Add some support rods to the 'wings', get up enough speed and start flapping. You'd probably need clipless pedals too so you dont lose your bike. :P

Thanks for the pic. Sometimes I use a rain cape = poncho in the summer
if there is high humidity.