Merino mini $98.00 item 43765
From JCrew: "A cozy mini with a wear-it-any-way-you-want waist tie (we love it cinched at the waist or loose and lower on the hips). Merino wool in a 14-gauge knit. Falls to midthigh. Import. Dry clean. Catalog/jcrew.com only."
Available in rich aqua, vintage navy (pictured), and hthr graphite.