The Edinburgh-based business has invited people from around the world to submit designs for outfits. Its collection includes a range of brightly-coloured costumes made with spandex, which cover people from head to toe.
The business said the designs that win most votes from fans will progress from the drawing board to production and sale.
Sara McCraight, brand manager at Morph Costume Co. said:
"We're increasingly receiving requests for us to create different costumes and some of the designs we receive are simply breath taking. We saw an opportunity to pull together the most amazing creative brains from all over the world."
The business, owned by AFG Media, did not say how many designs will be selected.
The move to democratise the design and development process follows a trend that has seen craft brewers such as Scotland's Stewart Brewing let customers create their own beers.
In February Morphsuits reached a multi-million-pound deal with Marvel Super Heroes for costumes that interact with smartphones to show "special effects".
The business was started by former Edinburgh flat-mates Gregor Lawson and brothers Fraser and Ali Smeaton, who launched the party costumes that let wearers see others while remaining anonymous five years ago.
Their AFG Media raised £4.2m from the Business Growth Fund in 2012.