This poncho is made from a simple rectangle, folded and sewn along one edge, with a gap remaining at one side for neck opening. The fabric is made using Wave stitch which involves winding the yarn around the needle once or twice on some stitches. 
Suitable for a intermediate Knitter.
 
Yarn Quantities/ shade 
Jo Sharp Alpaca Silk Georgette 
7 x 50g ball / Pebble 751
 
Needles 
3.75mm (USA 5) (UK 9)