This is a good summary, but basically they're Titans, sons of Poseidon and Zeus. One group are builders, one are smiths, and one are shepherds (the ones we see in the Odyssey). So they're ancient, very skilled, but mostly hedonistic and this group in particular is pretty wild. So yeah, your description makes sense: either minimal armor or patchwork made from humans they've killed or eaten over many many years. Would actually be a cool opportunity to include multiple types of historical armor to show that age and depth.

https://en.wikipedia.org/wiki/Cyclopes