This is a Shrug, knitted in one piece from cuff to cuff.
The size can be changed to lengthen or shorten to suit the wearer.
The pattern gauge is using The Little Grey Sheep Gotland Lace, which is a heavy weight lace yarn, with a bit of loft.
Alternative yarn could be used, perhaps a lace weight yarn held with a strand of lace weight mohair, or a 4ply yarn
The sample pictured used almost 2 x 100g hanks, in shade Girls Night Out
It is knitted using 3.25mm and 4mm needles.