My approach for a legendary wizard costume was using gold, red and white because these are the colors that I think of when speaking about 'legendary'. I couldn't decide between making him more like a dragon or a lion, so I tried to combine them both together and this is what came out. I'm really happy with the outcome and I had so much fun making it so I hope you like it too :)

link to my work in progress:
https://www.newgrounds.com/art/view/plnki/designing-legendary-costume-work-in-progress