Last winter I spied two very chic Upper East side ladies wearing their Lululemon (post work out?) covered by elegant ponchos. I wore a poncho when I was seven, it was white and had fringes. Above photo is a stunning Burberry, a bit ruined with the big logo on the back. I have seen ponchos in many retailers already this season but it takes a heavy worsted wool to give it the right heft or else it’s just a sweater without sleeves.