Sea witch costume--back to the drawing board

So with the disastrous venture with the dyeing of the lace, I needed to go back to square one on the main dress of the costume.  Fortunately, Sam and found a piece of fabric (actually a curtain panel) at the DI that she brought back.  It's a pretty blue with a large strip that has sparkly sequins in rows.  It's not quite enough material to make a dress out of, so it would have to be cut up and put back together a bit.  So I did another sketch for a different approach to the sea witch costume, this time using the panel as the main focus.

Here it is without color......and with approximate colors:

The panel has the advantage of many of the sides already being hemmed and the sequins already tacked down.

The panel is ~ 4' x 7'

<-----------4'----------->

Couldn't for the life of me find the pattern that I was thinking of as I thought about cutting up the panel.  So I grabbed out some extra material and made a mini-model, mostly just to figure out the logistics.  Made 3 slits all the way up to the bodice, straight up.  The took a second type of fabric and made three large triangles that matched the size of the slits on two sides.  Fit them to the sides of the slits and sewed a straight line.  

So not entirely difficult.  The question now is how to get the tentacles into the mix.  Or if that's wanting just too many things...