| sorry, Little late to join in on this but here is a pattern that has worked for me. Easy, quick and can be varied with stripes, or use scrape piece of yarn. Hope its something that works for you. VIVA PONCHO Knitting Worsted Yarn -20 ozs
Knitting needles - Straight needles #7 & #10 BACK With #10 needles, cast on 3 sts. Knit every row (stockingnet stitch)
Increase 1 stitch at each side every row until 145 stitches. Now decrease 1 stitch at end of every row until 60 stitchs remain. Collar Change to #7 needles and work in K1, P1 in rib for 4 inches. Bind off FRONT Work the same as the back up to the start of the ribbing. Change to #7 needles and work in K1, P1 for 30 stitches. Place remaining 30 stitches on a holder. Work until measures 4 inches. Bind off. Place remaining 30 stitches from the holder on to the #7 needle, work in K1, P1 for 4 inches , Bind off. Sew the 2 sides together. Make a draw string chain and weave around the neck right before the ribbing. Add fringe around the bottom of the poncho or make tassels and space them 2 inches apart along the lower edge. VARIATIONS You can make this in stripes, and then add the color to the last inch of the collar. | 
