Gravedigger's Cloak [Medium Armor 169]

[Shadow Era]

Name: Gravedigger's Cloak
Classes: Hunter, Rogue
Casting Cost: 5
Defense: 1
Durability: 3
Effect: 4: Place a random card from the opponent's graveyard into your hand.
Flavor: "Ohh... Shiny."

Eternal fame and glory goes to Spootz for the last minute entry!

[Benjee007]

Name: Cloak of Disguise
Cost: 4
Effect: Your hero's items cannot be broken/stolen.
Defense: 2
Flavor Text: What is mine,stays mine.

[Ice]

I'll take the opposite approach:

Thief's Cloak
Cost: 2
Effect: (6): Gain control of target item.
Defense: 0
Flavor Text: A good cloak to go with good thievery.

[Mattosai]

Cloak of Concealment
Cost : 5
Effect : Opponent must pay 2 shadow energy to attack or target your hero with spells or effects this turn
Defense : 0
Flavor Text : Hiding is still better than dying.

[Lost Time]

Name: Cloak of the Rogue
Cost: 4
Effect (6): Take one Shadow Energy from the opposing hero and place it in on your hero
Defense: 1
Flavor: "Run, run, run, as fast as you can! You can't catch me, I'm a level-headed man!"

[Martin JF]

Name: Shadowcloak
Cost: 5
Effect: Hero cannot be attacked when friendly allies are in play.
Defense: 3
Flavor Text: May shadow hide you

[watermonster]

Name: Thief's Cloak
Cost: 5
Effect: Has a chance to dodge enemy's attack
Defense: 2
Flavor: "Maybe next times"

[followtheRain]

Frauds Overcoat
cost:4
defense:1
Whenever an opponent draws a card, Frauds Overcoat deals one damage to him.
"Sign here, please."

[revZloco]

Name: Cloak of Deception
Cost: 4
Effect: (1) Target Friendly Ally card is turned over until they attack or are attacked.
Defense: 2
Flavor: "Now you see me, now you don't"

[NPD]

Name: Cloak of swiftness
Cost: 3
Effect: Your hero can't be the target of abilities or spells unless its controller pays 1 for each effect
Defense: 1
Flavor: Catch me if you can