I really like it and think it's a classic (without the balloon sleeves). I think the collared version is a little bit more unusual than the one without, so that's the way I'd go.
I could see a dressy version in shantung for skinny capris and heels, and a casual version in cotton for a denim pencil skirt and espadrilles.
I dont' really go for things that hang there without showing off a figure. That being said, if you made it I would go without the balloon sleeves and without the collar.
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Fashion is art you live your life in. - Devil Wears Prada | formerly ttara123