Do you want a stretchy wrap or a woven wrap? Cos that will be your fabric choice - something stretchy or something woven Obviously go for something as strong as possible. For sizing, I would look up the sizing charts for a ready made wrap, I think most wrap shops have them. They will tell you the size e.g. 6 but will also tell you the length in metres and what size person that will work for and what carries it will be long enough for.
I made an Osnaburg wrap and I love it. It will shrink a lot though! I got 6 yards (that's 5.5 meters I think?) and it shrunk almost a full yard. I don't know what the standard widths for fabrics are in the UK, but mine is about 30 in. I think is must have been 36 in. before washing.
You can use any woven fabric, but Osnaburg has a little bit of diagonal stretch and is a nice weight. It is really a matter of comfort, especially as baby gets bigger. When mine was a newborn I used a wrap I made from cotton lawn and it was fine, nice and cool for summer.
When i made my wrap i used a 100% cotton seersucker fabric. Its kind of wrinkly looking. It worked really well for using and didn't seem to have to much give and was really light for the summer so never got really hot. I got 6 meters and it shrunk a bit when i washed it. If you get a coloured fabric i strongly suggest washing it first otherwise the colour will rub off on your clothes. I learned the hard way lol
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