Yes, anything is better than the current state.

Yikes!

Mohair velvet, moss green or wine purple. Maybe you could find remnants.

ondering: Are you the one who stripped of the upholstery and padding, and was that because it had bedbugs?

Grey wool! Teak looks beautiful with grey... http://bloesem.blogs.com/.a/6a00d83451e8d469e2010535c081b6970b-500wi

Two suggestions:
1. Why not play up it's street creds? Buy some heavy canvas ( or drop cloth, whichever's cheaper.) and a couple tubes of acrylic paint and have at the cloth graffitti style? ( Or old school tattoo. Depends if you're artistic.)

2. Go to any Goodwill type place and pick up one of those "exotic" wallhangings, you know the ones that are black background and are supposed to look like a tapestry. Use the most interesting parts and toss the rest, cheap and urban cool.

BONUS. While you are at the Goodwill check out the coats. Sometimes there are leather or fur ones there that can be had cheaply because the arms or hems are 'shot' but the rest would be dandy to use as upholstery. If nothing else have FUN with your chair, hey.

You have to send us an "AFTER" photograph when it's reupholstered. We'll need closure.

I think I saw this chair at Restoration Hardware.:O)

Stop making it wait and do SOMETHING!

I would just go to a fabric store and find a remanent of fabric that speaks to you.

Measure how much fabric you need. Think about the colours in your apartment. Go to a fabric place and look for remnants. Unless you are totally dedicated to style and have lots of money don't decide exactly what you need before you look. In my experience if I decide I need a green velvet remnant it is impossible to find but if I just go and look I eventually (sometimes immediately) find something I like that will look good.

On remnants...I have purchased some excellent fabric remnants online. Etsy is one good source, but there are many.

As an example...how great would this look:

http://store.schindlersfabrics.com/liharalacast.html

Great ideas. I need to recover a chair seat.

Not to obsess (I love textiles), but here is a mohair velvet "short" for $30/yard, and there are more colors...including a lovely sea blue:

http://store.schindlersfabrics.com/frourfashres15.html

P&S Fabrics, Broadway. Go.

Good one, highlander403. And, I second gingembre's advice of grey wool. That would be beautiful.

Fluffy flokati?

http://www.ikea.com/us/en/catalog/products/40095398/

Or...broad mod stripes?

http://www.ikea.com/us/en/catalog/products/30151573/

Or... how about cowagunga?

http://www.ikea.com/us/en/catalog/products/60222932/

Have fun!

Love how you think, Hilton. More than a chair but art!

lime green faux ostrich leather...I like that original idea

That chair did not survive becoming street furniture only to suffer the indignities of purple or lime green ostrich leather. the horror! I'm sure he would enjoy being returned to his former glory with something close to his original material. Look at the fabrics used on thrivefurniture.com -- a solid wool in a retro color.

I recovered my dux chair in a darlk grey tweed like fabric. I LOVE it! It looks awesome with the warm teak.
http://www.flickr.com/photos/38053501@N02/7837819290/in/photostream

white leather

strip off everything, varnish it, then get a white fabric, paint black stripes on the fabric, write the word "ACTOR" in the back, then tack them on with some foam. let it be a proud piece of chair. feel free to reply:)

Oh, the POSSIBILITIES! If the street chair says lime green to you, do it! But I would recommend testing out the color in your living space first...sometimes bright colors can make people feel anxious and it sounds like you and this chair are in it together for the long haul. Best of luck!