Tailoring can be a very simple and profitable profession due to the possibility of creating bags. To make gold in Cataclysm off Tailoring, all you need is to create bags. Not just the embersilk cloth bags that were included in the new content, but all bags. Some of the most important bags to craft are Netherweave Bags and Frostweave Bags, as players leveling up and setting up auction characters have greatly increased demand for the highest slotted bags at the lowest price.
Any player with a character over the age of 60 will be able to farm netherweave cloth from The Burning Crusade Expansion and those players with alt level 80+ or even level 85 will have an easy time killing elite humanoids in some of the Burning Crusade instances. . . Killing Elite Humanoids will bring a higher chance to drop Netherweave.
Check the prices of Netherweave Bags on the Auction House server before attempting to farm the bags. In almost every case, I’ve found that farming Netherweave bags can net you over 1000 gold per hour.
The other bag to consider is the Frostweave bag. Frostweave comes from humanoids in the Wrath of the Lich King expansion. Having a level 85 that can blast their way through higher level Northrend instances with elites in them can make some serious Frostweave cloth and make a lot of money.
For lower level instances that can be run with humanoids in them, Utgarde Keep is where it’s at.
There are other items that can be crafted from tailoring that will generate cash, from spell threads to high-end gear, but honestly, the easiest way to earn money is through bags. Creating bags is simple and there isn’t much to consider except what the price of some items is on the auction house.