Several months ago, I found a link here to making some toddler pants out of an old t-shirt. I made a few pairs of pants like that, then decided to make a pair out of a long-sleeved t-shirt using the sleeves as the pants legs. Finn loves them; they are so soft with their washed-100-times t-shirt fabric.
Since I used the sleeves for this pair, the legs were nice and roomy with tight cuffs at the bottom. Paul calls this pair his MC Hammer pants.