One of my favorite characters is "The Phantom", and while I like the suit and origin, one day I was bored and designed a movie costume(BTW: I TRACED the drawing, I can't draw at all, lol). Again, no new origin, I'd keep everything in tact, I'd just change up the suit a bit.
Think the original Grey suit with some Tron-ish purple thrown in.
I liked the costume design so much that I decided to use it for a character in my own "Lava-Roid" comic book universe. I redesigned my very first idea as a kid: Menace, a complete rip off of The Punisher, lol. When publishing a new story of LR, I decided, well, if I never get a chance to come back to this universe (self publishing is expensive, lol) let me throw in every character I have!