Cheap rain pants (Viking?) from Marks. Then a rain jacket with pit zips on top. Brand is not too important. They all wet through within two years and never return to their initial waterproof state, so I buy the cheap one on sale. Marmot Precip, Sail house brand, currently MEC clearance rainjacket. Always pit zips.
On head, an Outdoor Research rain hat. I think it's called Seattle Sombrero.

I use old rain pants from OnTour.  They are a golf clothing company and have some decent rain gear.  They arent amazing but they get the job done.  I bought a North Face jacket last year on sale and absolutely love it.  I fished in a downpour last fall for over an hour and i was almost bone dry underneath the rain gear.  One little spot on my shoulder was damp.  The next purchase for me will be a good pair of rain pants.  My buddies and I go into the park every spring and fall so keeping warm and dry is key!