With MC and larger hook, ch 24 (30, 30); join with slip st to form ring, being careful not to twist ch.
Rnd 1 (RS) Ch 1, [sc in next 3 (4, 4) ch, 2 sc in next ch] 6 times; place marker and continue in rounds 30 (36, 36) sc.
Rnd 2 [Sc in next 4 (5, 5) sc, 2 sc in next sc] 6 times 36 (42, 42) sc.
Rnd 3 [Sc in next 5 (6, 6) sc, 2 sc in next sc] 6 times 42 (48, 48) sc.
Rnd 4 [Sc in next 6 (7, 7) sc, 2 sc in next sc] 6 times 48 (54, 54) sc.
Size L only
Rnd 5 [Sc in next 8 sc, 2 sc in next sc] 6 times 60 sc.
Slip st in beg sc of rnd. Fasten off.
With RS facing, skip sc at beg of rnd, skip next 3 (4, 5) sc, join MC in next sc.
Row 1 (RS) Ch 3, skip next 0 (1, 0) sc, [V-stitch in next sc, skip next sc] 23 (25, 29) times, V-stitch in next sc, skip next 0 (1, 0) sc, dc in same sc as beg, turn 24 (26, 30) V-stitches.
Row 2 Ch 3, V-stitch in ch-space of each V, dc in top of t-ch. Turn.
Repeat last row 3 (5, 7) more times or until desired length, ending with a RS row 5 (7, 9) V-stitches rows total. Do not turn.
With RS facing, ch 1, rotate, working up right front edge, 2 sc in side of each dc row to last row, sc in last row, sc2tog (last row with first row of left front edge), sc in same row, 2 sc in side of each dc row. Decide which version to finish.
For Ball-Fringe Poncho, slip st in beg sc. Fasten off.
Neck Edge (optional) With RS facing and MC, join with slip st in any spare loop of neck edge, ch 1, sc in same loop, sc in each loop around, join with slip st to beg sc 24 (30, 30) sc. Fasten off.
FINISHING FOR BALL-FRINGE PONCHO
With RS facing, CC, and larger hook, join with slip st in side of sc row of Front Edging, ch 3, dc in same st, [slip st in ch-space of next V-stitch, ch 3, dc in same ch-space] across, ending slip st in side of sc row of Front Edging. Fasten off. Weave in ends.
BALL FRINGEWith CC and smaller hook, for size S and L join with slip st in back loop of same sc used for beg of Body; for size M join with slip st in back loop of first unworked sc.
Row 1 (RS) Ch 3, [sc tbl in next unworked sc, ch 3] 23 (25, 29) times, ending size S and L slip st in back loop of same sc as beg, size M slip st in back loop of last unworked sc 24 (26, 30) ch-3 arches. Fasten off.
Row 2 (RS) Return to beg of Row 1, join with slip st in first ch-3 arch. Make Ball Fringe by [ch 9, 5 dc in 3rd ch from hook, drop loop from hook, insert hook from back to front into top of ch-3 that begins the group, pick up dropped loop, draw loop through, slip st in next 4 chs, ch 2, slip st in next ch-3 arch], make Scallop by [ch 3, dc in same ch-3 arch, slip st in next ch-3 arch]. Repeat [Ball Fringe, Scallop] 10 (11, 13) times, Ball Fringe once more, ending slip st in last ch-3 arch 12 (13, 15) balls. Fasten off.
Rnd 1 (RS) With MC and smaller hook, working firmly, ch 5, join with slip st to form ring. Ch 1, 10 sc in ring, join with slip st to beg sc. Fasten off.
Rnd 2 (RS) With RS facing, join CC with slip st in any sc, [ch 7, slip st in 3rd ch from hook, sc in next ch, hdc in next ch, dc in next ch, sc in next ch, slip st in next sc of Rnd 1] 10 times, ending slip st in same sc as beg. Fasten off.
Weave in ends. Sew Daisy to Poncho where desired using needle and matching thread.
Or sew optional pin back to WS of Daisy and pin to Poncho where desired.