Oh, COME ON! It's Halloween, the one party each year where you don't (and shouldn't) worry about style. It's about laughs.
If you show up as a styled character you're just going to suck the life out of the party. I'm sure you have the reputation among your friends of being a stylish person to begin with and you'd only come across as a complete stiff if you can't "let your hair down" for Halloween.
In the right setting women also appreciate men with a sense of humor much more than someone who seems like a stiff.
Trust me, you'll be the lonesome guy in the corner if you show up as a character in a suit.