First off, all credit goes to the boys over at The Sixth Division for their in depth tutorial on sewing a 1:6 scale ushanka. If you follow their guide, you'll get some cheap and decent looking ushankas. I'd just like to add that you might want to consider browsing the kid's hat section instead of looking for fleece gloves. I found a kid's fleece baclava for $6 that has enough material for about ten ushankas. Gloves were priced at $9 with enough material for about 3. Of course, there's always thrift.
On a side note, I'd suggest making a star and gluing it to the cap. Embroidering one might be a bit tricky since the thread sinks in if you pull the thread taught. Mine look like crap. But hey, not bad for about 10 minute's work apiece. I might try painting the outer cap grey to better resemble the in-game model for the Officer's Ushanka, since the guide does mention painting it to get the right look. A solid black appearance makes identifying the flaps difficult.
Maybe after crafting a few of these things, I'll finally get one in game.