I just bought this adorable purple sweater at JCP (using my $15 discount coupon).
I plan to return to the store tomorrow and snatch up the black one. It's more like a cropped cardi than a shrug and I have the collar rolled down, not flat like in the picture.

http://tinyurl.com/4keppaa

It's 53% cotton, 47% rayon and drapes beautifully.