What a beautiful trench from burdastyle! (Pattern, $5.99). The one above was made by Laura at My Little Nook, who gives excellent advice about alterations she had to make to the pattern. Raincoats are usually utilitarian, but this one is so elegant! Here are some other versions:
From Burdastyle:
From Maiacrafts:
With a leather color, featured on burdastyle: