If someone asked me what my favorite yarn is I would probably say Kidsilk Haze by Rowan http://www.knitrowan.com/yarns/kidsilk-haze.aspx .This yarn is so incredible to work with and although it is expensive (about $15 per ball) with only one ball you could make a shawl like this one!
It measures 10" X 52" and there are many ways to wear it.
I have made this one for my neighbor Barb whose daughter is getting married this month. Of course I picked a discontinued color (nightly) and I had to investigate to find more yarn on the internet. I ended up ordering three balls at Purls http://www.purlsoho.com/purl
mostly because I thought it would be cool to receive a package from NY! I want this shawl to be wider so I will add on to the sides. Then there would be two options to make it: a lazier version with only one ball and if a wider scarf is desired and patience is not running low this would be the second version which I am currently working on.