For a quick fix, I thought I'd try wrapping the exterior of the plastic pot with some green jute I picked up at Home Depot. Because the pot is curved, I knew I'd need to use my glue gun to secure the jute every wrap around or so.
It was a pain, (literally...I burned myself a thousand times) and took nearly an hour to complete. It looks ok, but very crafty (like an elementary school kid got their hands on glue and yarn.) So, I'm tending my burned fingers and still on the hunt for a nicer hanging planter.