I finished this cowl over the weekend-it is SOFT! The pattern is the Noble cowl and the yarn is Silky Merino by Malabrigo. If you haven't had the pleasure to knit with this yarn you should!
Even though it is a single ply, the stitch definition is fantastic. Silky Merino comes in an array of colors, so if you see it at a yarn shop pick up a skein or two and knit a little something decadent.
I managed to knit this cowl with one skein! There was a yard or two left over so I got that giddy feeling of "is there enough yarn". It makes my day to be slightly stressed about yardage. Ravelry notes are here.