At first glance, the navy blue jacket appears to have red pinstripes, but on closer inspection the words “For the many, not the few” can be seen running vertically through the fabric.
The jacket was made by 38-year-old Bradfordian Imran Khan, who owns IK Collections which has shops in Bradford, Manchester and Harrogate.
Mr Khan said he chose to make the jacket because he is a fan of the Labour leader.
“Corbyn has the right policies. He’s here for everyone, the people that are suffering every day,” he said.
“He’s always pictured in suits that are a bit big for him. David Cameron told him to get a proper suit and that was the day that I decided to make it.”
The jacket took five months to make and would have set the Islington MP back £850 had it not been a gift.
Mr Khan guessed Mr Corbyn’s size based on pictures. “He’s a 41,” he told the Yorkshire Post.
However, it seems there is some confusion over the jacket, which the Labour leader seems to believe was a gift from Leeds North East MP Fabian Hamilton.
Speaking at a rally at Leeds Beckett University on Saturday night, Mr Corbyn said: “To Fabian Hamilton, thanks very much for the jacket. It will get its first outing tomorrow.”
He also repeated the claim to photographers in Whitby who he shared chips with while wearing the blazer.
Mr Corbyn said: "He has a friend of his who is a tailor. He gave me this jacket and it's quite splendid."
He joked: "It almost fits. "I don't know if we need the jacket to grow or me to shrink."
Mr Corbyn then offered to share his snack, asking photographers: "Do any of you guys want a chip? They're really good."
A photographer then joked "many chips for the few".
Mr Corbyn replied: "Chips for the many, there you go."
However, Mr Khan suspects the confusion came as he stood next to Mr Hamilton for some of the evening and passed the jacket on to Corbyn’s people.
Mr Khan went to the event to support Corbyn and deliver the gift. “I stood for four hours -- I’ve never stood that long in my life before. My back was hurting. That’s what he means to people.”
Mr Khan added that he has plenty of metres of the “for the many” fabric and can make full suits for anyone who might be admiring the Labour leader’s style.
“It will take four to six weeks and I do a first, second and third fitting,” he added.