What you'll need 5 yards aluminum-covered bubble insulation, metal-insulation tape, 1 yard each red, orange, and yellow felt, hot-glue gun
1. Cut a piece of insulation the height of your child, that will fit comfortably around him. Cut a circle for the face about 8" down from the top. Cut out holes for arms. The bottom of the rocket should be about 2'" above the ground, for easy walking.
2. Cut flames from felt. Glue along the bottom of the insulation.
3. Make into a tube and seal along the back with metal-insulation tape.
4. Hat: Cut a rectangle of the insulation and wrap into a cone shape. Tape down the seam and hot-glue to the top of rocket tube. (If your cone is just bigger than the circumference of the body tube, it will fit snuggly without any adhesive needed.)