I made this simple navy blue shrug to wear at my reception. I modified this free pattern from Classic Elite Yarns, Post Wedding Shrug, inspired by this one. The modifications: eliminated the sleeve cuffs; added a crocheted shell edging to the whole thing.
I knit the piece flat, blocked it to my satisfaction, stitched closed a few inches at each end to form the arm holes, then applied the crocheted edging all around. I used KnitPicks Shine Worsted in "sailor" and this project only used 3 or 4 little balls, if I recall correctly, making it quite the little budget-friendly project.
I really love the finished product, though I'm not sure when I'll have use for it again.