This wonderful epattern by Angela Steffen is worn close to the neck as a scarflett for an adult (but can be made exact same size and worn as a poncho for younger children). Use CinDWood loom with 5/8 inch spacing and at least 20 pegs. 12" hat/scarf combo loom or universal hat/scarf loom are both good choices. Used less than 1 skein of Loops and Threads Charisma, a bulky 5 yarn. Includes link to video demonstrating how to add tassels (video not mine).
This loom is the perfect size and gauge to make a 10-stitch baby blanket with bulky (#5) yarn, I own other looms in this gauge, but they're round--fine for hats or scarves, but awkward for making blankets.
I am an elderly knitter with hands that don’t always do what I tell them. Larger gauge knitting looms mean fewer dropped stitches. But I love the look of projects done in a finer gauge. I took a chance and bought this loom to make a full size Afghan for my husband. For this Christmas. Madness! I had to start over a couple of times because I couldn’t fix a mistake. But lesson learned. In this age of instant gratification, I realized that a slower, more measured pace eliminated dropped stitches. And that I was a much more relaxed knitter. I’m 20 mistake free inches into the 70 inches for this project. I love the way it looks and feels. Sometimes it’s nice (and good for me) to ease up and enjoy the process. I’m very happy I bought this loom and am having this experience.