Everybody seems to want a free poncho pattern. I'm here to oblige today.
This is about the simplest pattern you could ever find for a poncho. Basically you'll need your favorite lightweight yarn (spend as much or as little as you like), large circular needles, a lacy pattern, a newspaper pattern, and a sewing needle. You will make a rectangular stole and then sew one end to the bottom side of the other end. This will create the poncho.
I decided to make a child's small poncho. So I took The New York Times and started to cut out a nice rectangle. I cut and trim until it seemed the right size for a small poncho (girls size 2-4). It ended up being 27 x 9.5 inches.
Then you sew (or in the case of the newspaper pattern "tape") side "A" to side "B". Block appropriately until your poncho has the correct look. If you want to try the newspaper pattern on for size, do so, and adjust accordingly.
This is what I'm currently using.
Red Heart Soft Baby in Powder Pink (1-2 skeins)
size 13 circular needles
sizes are for S, M and L
Final Dimensions - approximate (I'll be back with actual dimensions upon completion of the sample ponchos)
S - 27 x 9.5 inches
M - 40 x 12 inches
L - 50 x 15 inches
Gauge - 3 stitches to the inch. Take time to make sure your gauge is accurate, or adjust number of stitches appropriately to get the final dimensions.
Cast on 90 (120, 150) stitches and knit the "Oblique Openwork" from the Reader's Digest Complete Guide to Needlework - lace pattern until the piece is a solid rectangle. Please note that this pattern tends to slant on the bias due to the oblique nature of the stitch so you'll need to do some serious blocking.
Pattern (multiple of 2 stitches)
Row 1: K1, *YO, K2tog*, K1
Row 2: Purl across
Row 3: K2, *YO, K2tog*
Row 4: Purl across
If you like fringe, please feel free to add some fringe evenly spaced along the edge of the poncho.