This is a wrap/stole that I knitted last summer. I used lightweight fibers in a medium weight yarn, mostly cotton and bamboo. I ordered the yarn as a summer sampler in green from Elann.com, which is a great place to get cheap yarn.
Row 2: k3, p to last 3 sts, k3.
Row 3: k3, *(k2tog) 3 times, (yo, k1) 6 times, (k2tog) 3 times. Repeat from * to last 3 sts; k3.
Make it as wide and long as you want it and switch colors every 4 row repeat to get the stripes, or just make it solid.
This is great for tv knitting, lol. Enjoy!