Drawknives come in all shapes and sizes. Finding a leather sheath to fit can be problematic, costly and high maintenance. But not any more with this simple solution.
Measure between the drawknife handles. And reduce it down by about 1" (25mm). So there is enough room to slide the guard into position.
The distance on my large drawknife handles is ~13" (33cm). So I'll need a blade guard ~12" (30cm) in length.
Use a saw to cut a piece of 25mm diameter plastic conduit tubing to the required length.
Place the tube between the knife handles, making sure it fits correctly. There should be a little bit of wiggle room from the ends of the tube to the handles.
Next wrap two strips of masking tape around the pipe either side of where the blade ends. This is where the blade will fit into a slot. Again leave some wiggle room.
Stick another piece of tape along the length of the tube. It will serve as a straight edge to follow when "chain drilling" a series of holes, that will later form a slot for the blade.
Being careful to only drill through the top surface of the tube and only between the pieces of tape.
Note: Chain Drilling in a straight line creates a series of holes that resemble a chain.
Now cut away the material between the holes, creating a smooth straight slot.
Use a vice or clamps if available to help secure the pipe.
A chisel is more accurate and makes for a neater job than using a knife freehand.
Remove the tape. Attach the guard to the knife blade and secure in place with an adjustable hook and loop strap for safekeeping.