Poncho update and "Frill"

I am winding down on my poncho. I am working on the hood and then need to put on the fringe. I always get so excited about finishing up a project. I was shopping in the mall with my niece the other day...I pointed out a poncho on a rack. She responded with"Well, that is nice, but not as nice as the one you are making me". Made my heart soar. I have had me eye on "Variations on a Frill" , since it came out in Knitty. What do you think of this ? I have been searching of the right yarn. I have been interested in incorporating beads into my work. This would be a great introduction. It also would be a great present for someone on my Christmas list. I have read a few comments about this shawl. Both people said they would make it wider next time. As soon as I finish up the poncho I am going to cast on for the "Making Waves" socks. That's it for my update for now.