Could do the hb tape wrap. Also am looking at a product call surgru. Its a silcone rubber that air cures. Comes out of package as a putty, which I coukd roll out and form around the levers. Comes in 8 colors, so I could match the 80s neon on the bike. Only drawback is that its kind of hard to figure how much I might need. Surgru's website is a little short of info. Normally, I would just buy a bunch, but shelf life seems to be an issue.
Then again, I keep coming across beer cozies at garage sales. My sewing is not great, but I think I could cut and stitch the foam in cozies, and get something only a little ugly.