Step 3: Make armholes
I've provided a scan of the oval I made out of paper for this purpose, because I don't have the right software today to draw one for you digitally. :D
Fold the large piece of fabric in half lengthwise. Measure down from the top 12-14" (30-36cm) and in from the fold 10-11" (25-28cm) depending on your preference. Place the edges of the oval template at these measurements.
Trace the oval in chalk. Remove the paper pattern. Pin the fabric together well and cut out the oval from both layers of fabric.