Donna Karan's DKNY has had a piece that is a staple in their line called The Cozy
The season dictates what it's made with: cashmere, silk/cashmere, cotton...
It's basically a sweater and the front pieces are very long.
It's worn numerous ways and is very very versatile. (Go to the link called "12 Ways To Wear A Cozy")
I'd like to know if anyone's seen it and figured out how it's done.