The lightness of the fabric is apparent in this photo. The pairing of the possum/merino blend yarn (Zelana Kia Ora Rimu fingering weight) with beads is perfect. The piece can use a little extra weight. The yarn is expensive in the U.S. If one could find a bargain price, either here, or in its native (possum-loaded) country, it would be worth buying for the novelty alone.
When I found the pattern in last Winter's Vogue Knitting, I decided it would be both a fun knit and a reasonable match for the hat I'd knit from an earlier issue of VK.
The hat pattern, from the Fall 2009 issue, is by a different designer but uses the same yarn. My version mixed two patterns from this issue to make the knitting a bit more interesting. Details on it and the shawl are logged on my Ravelry project pages, Possum Shawl and Merger hat.
There's a year between these two projects, and likely another one to go before I wear them somewhere together. That's knitting--it makes you plan ahead!