Cori just finished the Elise Shawl. It takes just one skein of Cascade Heritage 150 yarn ($18) and the pattern, by Evan Plevinski is free (it's a Ravelry link.)
There's a lot to love about Heritage 150 -it's the same great yarn as Heritage sock (75% wool, 25% nylon), in a sport weight. It's durable and machine washable, yet soft and springy. Just right for a little something for a chilly movie theater.