Using just a skein of Merino Cloud make the triangle shawl (dimensions specified above).
Add a skein of Beaded Silk and Sequins in a matching color to make the lace closure and turn it into a poncho.

Pattern includes both options.

Purchase the pattern and yarn through the shops listed here:
https://www.ravelry.com/discuss/artyarns-knitalongs-and-designs/3701040