A Poncho for Nicolette (12 Months Old)

I saw a gorgeous picture of a poncho and felt inspired to knit one each for my girls. On holiday in Wales I found aran yarn which is 20% wool and feels nice and warm. I have a couple of different poncho patterns that I studied first but they are in double knit and did not come out the right shape in aran so I have made the pattern up! This is what I am knitting for Nicolette which should hopefully fit her for a year. The poncho is knitted in four identical triangular pieces.

Using 5 mm needles cast on 55 stitches in cream.
K1 row
(P3 y.r.n. P2tog) to last 5 stitches, P5 (the wholes are to thread tassles through)
K1 row
P1 row

Shaping to get triangle shape:
Next row and then every third row decrese at either end of the row to loose two stitches.
i.e.
K1, K2 tog t.b.l., K till last three stitches, K2 tog, K1

After a total opf 23 rows from the start of work change to pink.