Crafting a cape, it will be a while before I can do that. First I'd need to max Blacksmithing for my level, then collect lots of crafting materials to level to that point, then for the cape to be any good, I'd need certain foci, lots of them, to make the cape useful, then of course the job of leveling enchanting ...
Long story short, making a good cape isn't easy. You may be better off finding a mob drop for a cape.
Not to mention crafted items, even when enchanted, are very very weak until you start getting close to level 100 items do to items starting with very low maxes to stats, and very slow increase. It accelerates as you get closer to 100 so later items start to be good, but those are around 80 or higher before you get to that point, maybe not even then.
As such, I recommend finding a mob that drops a good cape instead of using anything enchanted. At least, not until you hit tri.