Other yarn manufacturers also came up with a free pattern http://www.interweave.com/knit/events/freedom_poncho_pf.asphttp://www.herrschners.com/pdfs/MatchMarthasPoncho.pdf
Still having the poncho bug, I looked at other patterns on the web site and knitted several Pretty Ponchos http://www.lionbrand.com/patterns/khs-prettyPoncho.html?noImages= (without the hoods which I didn't like) in various shades of Homespun, one in Lion Brand Jiffy (Denver) The red stripey Homespun took the blue ribbon in its class at a local country fair, much to my delight. Then for a local fund-raiser I knitted several with all sorts of odd wool donated for the purpose! If you are familiar with the diagonal baby blanket pattern you will know that this particular poncho is knitted in a similar way - from corner to corner (with a hole in the middle for the head!) It's really quick and easy. I would recommend it for a first time poncho diva!
My latest poncho - hot off the needles this week has been finished using the Lion Brand free Colorwaves poncho pattern http://www.lionbrand.com/patterns/kcw-poncho.html?noImages= in a very nice shade of sunset red. http://cache.lionbrand.com//yarns/colorWaves.htmlhttp://cache.lionbrand.com/cgi-bin/yarnInfo.cgi?yarnPageIndex=1