I bought this fabric over a year ago and I've been saving it, waiting for just the right project. The fabric is a knit, with a loopy texture, and the reverse is a smooth knit in charcoal with a little stripe (look very carefully to see a snipet of the stripe). I'd originally thought I'd made a dress, but then thought I'd wear a jacket more... back and forth for over a year.
I finally settled on a dress. It is absolutely not the type of thing I usually make, not being a caftan type of girl at all. But I loved how the short dress looked with the flaring sleeves and the insets. So, finally, I cut it out, and in a very short amount of time, had the finished article.
I've got close-ups of the details at The Vintage Traveler.