Sign shops (and locally, Tap Plastics) carry sign vinyl in all the primary colors. You can get it in various "mils" of thickness. You can gently heat it witha heat gun and shrink it once its on to take out wrinkles.
If I was tackling your project, I'd go for a wider, narrower slit in the lower opening. Fewer turns means less energy is put into moving the air around corners.
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