I made one more pair of wrap pants after the last time, trying to see how little fabric I could use. This is pretty much the limit here - these barely overlap on the sides. I could have done a little better (the hems are double folded and relatively wide). The fabric I used is also less stretchy than the previous ones.
I added drawstring to the bottom for a different look, and to keep them from constantly flying off and tangling when it's windy or I'm moving a lot.
This pair is available in my Etsy shop.