The pattern is the South Bay Shawlette from Lion Brand - it's marked Advanced Intermediate, but since was my first crochet project I'm pretty sure that's incorrect ;o)
The yarn is a hand-spun, hand-dyed rayon I got in my recent swap. I really liked working with it since I'd never used rayon before. It's very soft and smooth and cool to the touch.
Here's a link to the pattern http://www.lionbrand.com/patterns/90489AD.html?r=1
I'm going to try to take some pictures of it in the sun later today or tomorrow to really show off the beach-y/mermaid-y colors!