Description from Knitty.com:

When it's time for some instant gratification, look to this vest. Knit in garter stitch out of a furry wool yarn, it features armholes deep enough to wear over a favorite jacket and can run the style gamut from glamour to hippie.

Since the yarn is so highly textured, the body is knit in one piece and the shoulders are bound off together, thus avoiding any sewing. The collar is picked up from the unbound stitches and can be lengthened to suit, or kept short and accessorized with a matching necktie.

Buttonholes aren't needed: if a closure is desired, try an oversized kilt pin or buttons sewn together to form cufflinks.