a method for making armor...maybe

Recent work by myself has led to the creation of a set of horns for a mask I was working on (Lowe) by carving foam and covering it with latex paint. Was thinking about making a suit of armor the same way, maybe using a compression suit as a base, maybe just using a tight t-shirt. Do people think this method could work?

Some people do make bits of armour with this method, or at least foam+latex paint. Artyfakes are the ones to look at for examples definitely.