Instructions:
Note 1: the two balls of yarn I've used have the same color gradient, so the back and front pieces are almost identical.
Note 2: when reaching last row in the back and front pieces, you can either cast off all stitches and sew the shoulders together, or if you are familiar with the Kitchener stitch, use it to attach the back and front at the shoulders' last rows.
Poncho Back Part:
Cast on 3 sts:
Row 1: k
Row 2: k 1, m 1, k 1, m 1, k 1. (5 sts)
Row 3: k
Row 4: k 1, m 1, k 3, m 1, k 1. (7 sts)
Row 5: k.
Row 6: k 1, m1, k 5, m1, k 1. (9 sts)
Row 7: k 4, p 1, k 4.
Row 8: k 4, kyokrb, k 4.
Row 9: k 4, p to last 4 sts, k 4.
Row 10: k to center st, kyokrb, k to end.
Repeat rows 9 and 10 until the sts count 53.
Middle Triangle:
With wrong side work as follows, (from now always mark center stitch):
Row 1: k 4, p 22, k 1, p 22, k 4.
Row 2: k 26, yo, k 1, yo, k 26.
Row 3: k 4, p 22, k 3, p 22, k 4.
Row 4: k 26, yo, k 3, yo, k 26.
Row 5: k 4, p 22, k 5, p 22, k 4.
Row 6: k 26, yo, k 5, yo, k 26.
Side Increases:
Row 7: k 4, p 22, k 7, p 22, k 4, cast on 20 sts at the end of row.
Row 8: k 46, yo, k 7, yo, k 26, cast on 20 sts at the end of this row.
Row 9: k 24, p 22, k 9, p 22, k 24.
Row 10: k 46, yo, k 9, yo, k 46.
Row 11: k 24, p 22, k 11, p 22, k 24.
Row 12: k 46, yo, k 11, yo, k 46.
Row 13: k 24, p 22, k 13, p 22, k 24
Row 14: k 46, yo, k 13, yo, k 46.
Row 15: k 4, p 42, k 15, p 42, k 4.
Row 16: k 46, yo, k 15, yo, k 46.
Work on these two increasing rows until the triangle in the middle stitches count 41 and ending a wrong side row.
Neck Edge Right Shoulder Side:
Row 1: k 46, yo, k 20, cast off 17 sts, k 4, yo, k 46.
Row 2: k 4, p 42, k 5.
Cast off all stitches leaving ( or keep sts in a st holder, cut yarn leave 3 yrd tail yarn).
Left Shoulder Seam:
Insert yarn in the center back stitch (that has been decreased when working the left side) to retain the stitch:
Row 1: cast off 17 sts, k 4, yo, p 42, k 4.
Row 2: k 46, k 5.
Cast off all stitches leaving 1 yard of yarn for sewing ( or keep stitches in stitches holder, and cut yarn leaving 3 yard tail).
Poncho Front Part:
Work like back until you finish row 14 after side increases.
Now work to shape the V neck opening:
V Neck Opening:
Work on as follows starting with the wrong side row:
Row 1: k 4, p 42, k 15, p 42, k 4.(row 15 in back instructions)
Note: Mark the center st, in the middle of the center k 15.
Row 2: k 46, yo, k2tog, k 5 (front right side), cast off next 3 sts (the first one is the center middle st), k 3, k2togtbl, yo, k 46 (front left side).
Front Left Side:
With wrong side row, work as follows:
Row 3: k 4, p 42, k 5.
Row 4: k 3, k2togtbl, yo, k 46.
Row 5: repeat row 3.
Repeat rows 4 and 5 fourteen times, cast off all stitches ( or, put stitches in a stitch holder).
Front Right Side:
Insert the knitting needle in the center front stitch (that has been cast off when working the left side) to retain the stitch:
Row 1: cast off 3 sts, k 5, p 42, k 4.
Row 2: k 46, yo, k2tog, k 3, turn.
Row 3: k 5, p 42, k 4.
Repeat rows 2 and 3 fourteen times, cast off all stitches (or put stitches in a stitch holder).