So, the random gen cloaks were not as interesting as I'd hoped they were going to be. In fact, these few pictures cover all the possible combinations I've been able to find:
Colors:
Black
White
Red
Green
Blue
Purple
Pink
Hot Pink
Gray
Edge Styles:
None
Line
Scalloped
Squares
Spoons
Bars
Patterns:
None
Diagonal
Point Up
Point Down
Squares
Line Across
That's all I've seen. Yellow and Orange do not appear to be possible random gen cloak colors, but there are a few named cloaks with those colors.
Also from what I've seen you can't get a cloak that has a pattern style but no edge style. So you can get a plain color, a plain color with an edge style, a plain color with an edge AND a pattern style, a color/edge combo with 2 colors, or a color/edge/pattern with 2 colors.