Yes you certainly do get what you pay for, at least you learned that quick in the wonderful world of kilt wearing. I think it you have a good idea with making one yourself, however in the mean time you might want to check Stillwater kilts as Jerry has some inexpensive sporrans that look much better than the one you have.

I was also thinking that you might want to get some kilt hose you could check here they are an ebay seller but I have never had a problem dealing wit them and have recommended them to others as well.

Good luck with it.