Looking at my last outfit post, this one is really similar.I'm developing an obsession for high waist skirts which were originally t-shirts.
To do the same, just get a t-shirt that needs revitalising, pull it over your hips so it's between your hips and bust; tie with a belt (this should cover the arm holes). If it's a long sleeved top pull it round your back (or front) and tie into a bow. Look closely at the pic above, that's what i did. =)
Trench, H&M; skirt (originally 3/4 sleeved top), H&M; grey vest, New Look; belt, Topshop; socks, Accessorize; flats, Primark; necklace, Pilgrim charm on chain; (broken) watch, vintage.