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Some people are having trouble with the concept of how to transform this long rectangle into a wearable with armholes! Following are step-by-step directions to guide you through the process, with my not-very-professional photographs.
1. Fold the rectangle in half so the cast-on and bind-off edges are together, and mark the center point.
2. Bring down the cast-on and bind-off edges so they are next to each other, with the inside length of the rectangle together.
3. Bring down the Center so that it touches the top of the seam at B.
4. Make a diagonal seam outward on each side from the Center, leaving an opening on each side - these are the armholes.
You have just made a Y-shaped seam from one of the long edges of the rectangle. The other long edge runs the length from bottom, around the neck, and down the other side. The cast-on and bound-off edges are the bottom. Fabric topology!
Worn as you have just sewn the garment, it is a swing vest. Flip it upside down (180 degrees), and you have a shrug with tuxedo points. Fasten with a shawl pin, or tie the points together.
Have fun finding more ways to wear it.