This... well, what are we calling it? A coat? A cape? A poncho? Whatever it is, the draping on it is amazing. Love those full sleeves, love the wrapped neckline, love the length and volume. Don't necessarily love the matching pants, pumps, and (shudder) hose, but the cape-thing itself is pretty fab.
Bonus: Converts seamlessly into a camping tent when not in use as a garment.