I think Cardiff is adding a #6 to your list: buy a sweater you can use again (as in option 4) but skip the “ugly” part. There are lots of lovely Fair Isle sweaters out there. Why not get one of those, grin and nod gracefully if anyone at the party calls it “ugly” as a compliment, and enjoy wearing it non-ironically in the future?
ETA. I enjoyed this basic Lands End sweater for years. It is a men’s large, so was oversized on me. This year, for the first time, it is a perfect fit for the babe in my arms here.
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