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Picture of Fits all sizes Stylish Poncho Wrap
This wrap is constructed from a 48" X 60" soft felt blanket. The inner trim can be sewn or pressed on with iron-on seam binding. It can be folded flat for traveling or just draped over a carry-on bag.  Just make a center cut from one edge 33" long (must be a little more than half the length).  Open flat and sew on the seam binding and cut a fringe on the ends. To wear just open the slit and place behind your neck and the side panels fall to the front.  You can then wrap one over the opposite shoulder and you are set.

Step 1: How to measure for cutting.

Picture of How to measure for cutting.
Lay the 48" X 60" piece flat and fold to find the center.
 
FYI

Just in case you didn't know this is called a Ruana, origin - Central/South America

I'm knitting one (that looks handwoven) from Folk Shawls by Cheryl Oberlyn (sp)