I came across a Robocop Suit on eBay this morning which is signed by Peter Weller. It is an authentic reproduction of the suit used in the films and can be worn as pictured above. It was created by the person who made the actual suits for the movie (Bruce Hansing). As well as being a full clone of the original it also features a soundboard which has pressure plates in the feet so that you get a huge clunking noise as you walk around.
Also a number of servo noises can be heard when you move around to make it even more like the real thing. To add more sound effects a microphone is built in which amplifies your voice when you speak and makes you sound all robotic.
To check out the video of the suit in action you need to check out the auction linked below.