Back in the day, there was this stuff call ProGrip that we used to cover windsurfing booms with. This stuff feels great, and it doesn't move around. I have about 8 feet of it (international distress orange!) in my shop. It's about 1/8" thick. You bevel one edge, then contact cement it to the tube. The end of the wrap gets glued over the bevel. Later, you sand it to profile. The seam is not bad, and goes underneath.
I happened to be in the local crafts store, and they are selling the stuff in sheets, as stuff for kids to cut up and glue in to cute littel projects. Name a color- it's there in small quantities. It's called "Wonderfoam."
I looked it up in my Sax arts & crafts catalog- Wonderfoam 748-3500 $5.99 for package of 10 9x12" or 748-1013 12x18 $9.99 I think they have a website.
OK, I tell you guys this because I'm checking out a suspicion I have that the stuff comes in animal prints- zebra, leopard, tiger, cow.
Pete