I used Perly Perle to knit some sleeveless tees to wear this summer and here's how it turned out.
I knitted them on U.S. #1 needles. They fit like a glove. In summer, you probably want your tops loose.
So use #2 or 3 needles, and maybe add 8 stitches when you cable on.
I knitted one sweater with ribs, like what we used to call a "poor boy" when I was a teenager, and another with fine cables about every 16 or 20 stitches. Calculate carefully before you start so that ribs and cables grow out of your bottom rib and meet the neck ribs at even horizontal spacing on both front and back.
The knitted fabric is a little heavier than your average tee. That's a little much for summer unless you're going to wear them to the office. With the boat neck that the instructions produce, these probably are good for the office because they're not too revealing.
You can get a sleeveless tee and a cardigan, bolero, or spencer from a cone. Perly Perle only comes in cones.
Cones of red come in a heavier weight and it's enough to make short sleeves for the coverup. For other colors, there's just enough yarn for cap sleeves but that is enough for summer evenings or at the start or end of the season when it might be a bit cool at night.
Perly Perle comes in lots of colors. If you decide to make a two-color or multi-color tee, you'll have plenty of yarn left for a matching coverup with long sleeves.
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