Crafthub's moderator, Ddl2829, and Icemod creator, Jabjabjab have teamed up to bring us Cape Mod! The mod allows for anyone using it to have a custom cape in both Singleplayer and Multiplayer. In addition, you can view anyone else's cape who is also using the mod!
DDL explains how the mod works:
Cape mod queries a web server with your username, and returns a cape image. That cape is then added to your player like Christmas capes were. Custom capes can be uploaded to the server, and anyone with the mod installed can see your cape.
For instructions on how to set up the mod, head to DDL's website. DDL told me this is a relatively simple mod in comparison to his and Jab's future plans. You can expect to see many more great mods from these two. If you find any issues with the mod, feel free to mention them in the comments below or on our forums.