I had a pair of the 70 quid type of wellies once- 'Aigle' they were called and lovely and green with buckles on the side and brown piping round the top.
http://www.wellieboots.com/acatalog/Aigle_boots.html
I now try to avoid waters with a muddy or wet edge, when stillwater fishing. Strudy boots or better still, leather brogues are more in keeping with the surroundings.
I find that one has to look the part when fly fishing- I wouldn't be seen dead at the water's edge in jeans, for example. Green or brown cords, a Tattersall check shirt and my Patagonia fly vest, plus suitable head attire.
Nor would I use the lure style of fishing- it's imitation or nothing for me, preferably dry fly....
I do have a rather natty pair of Bolle polarised sunglasses though, a bit risque really, but I rather like them.