I bought this skirt recently at my favourite op shop (thrift store). It was $8 (gasp!), which is more than I would usually pay for a skirt but I thought it had potential. It was made with lovely quality stretch fabric with a ribbed waistband and hem. The waistband was also elasticated inside the ribbing.
The original length was, ahem, less than flattering so I unpicked the waistband, chopped off a bit of skirt and reattached the waistband. It was a pretty quick project and now I love it!!