I have some leather that has formed rather well in the past and has a lot of stretch to it. The hope is that I can stretch it into shape more than compress the extra leather down. What I'm going to have to do is (assuming it goes even remotely close to how I want it) soak the leather until it is completely saturated, tack it to the form and then draw it through the die plate, allowing the leather to dry while still through the die plate. The folds and extra bulk would have to be left on until the piece was completely dry, and then trimmed to length.
The entire process sounds futile, I'm aware, however I'm willing to give it a try. Even if it fails I'll have learned something.
As for the end use, It's part of an illusion for a magician I've known since high school.