Playing with stripes ;-)
Heavily modified version.
So here is what I did: I used I-cord cast on; I didn’t cast of stitches in armpit; I neither cast of stitches in front where in original pattern hoodie rib is worked - I knited those stitches as left part of front and again, picking those stitches as a right side of front; For hoodie I picked around 74 stitches - I don’t remember exactly how much; Then I finished selvedge stitches of armhole and hoodie by applying I-cord. Voila!
Stripes recipe: 5 rows of MC 1 row of CC1(red), 2 rows of CC2(blue) 1 row of CC1, 5 rows of MC, 1 row of CC3(white)
(april 5th 2011 update: unfortunately this piece doesn’t exist anymore. Dear husband put it in the washing ashine and it felted. I intend to knit this vest again, with superwash wool)