A really fun and easy thing to dress up as is a drag queen - just find the brightest, funkest dress you can, pair it with a feather boa, and wear as bright, over the top make up as you can, with lots of glitter!
I mainly dress up as rock stars or other figures of pop culture, as they usually require minimal effort and cash to find a "costume" (I just dig around in a thrift store or use my own clothes, sometimes I don't even have a costume until half an hour before I leave for school), and allow me to be "in character" all day, which in really fun.
Last year I was Bono, the year before that I was Deborah Harry, and this year I'm thinking of dressing as Kitten from Breakfast on Pluto, or as a Harajuku cosplayer (despite the fact that I tend to dress up like that randomly, not just on Halloween). Either way, I'll porbably hafta learn how to use my sewing machine.