A Latin American style of shawl, traditionally woven from wool, but now can be made from any material. It's basically a piece of cloth wrapped around the shoulders and hanging down to your waist, and it has a hole for the head in the middle. It was extremely popular in the 1970s. Supposedly, trendy grade school kids are wearing them now, but I'm in college and I wouldn't know about that.
I just bought a black fishnet poncho with sequins, which will form an integral part of my new "1970s punk/porn" style.