Every season, an item comes along that attracts instant wait-list status. Lusted after by the world's most stylish, it's fair to say most street-style catnip is usually reserved for handbags and It-shoes - like, say the Chloé Drew bag. So it's rare to find a piece of clothing that manages to catapult off the runway and onto the most-wanted lists for more than one season. The Burberry poncho is one such item.

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Seasonal update: 11 reasons we still love the Burberry poncho

Making its first appearance in Burberry's A/W '14 collection, the Mega Check poncho has been spotted slung over the shoulders of every in-the-know fashion girl you can think of. From Sarah Jessica Parker and Rosie Huntington-Whiteley's triple-initial versions, to Cara Delevingne, Suki Waterhouse and Olivia Palermo's double-initial renditions, the luxe poncho was one of last winter's highlights. 

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Seasonal update: 11 reasons we still love the Burberry poncho

And now, the Burberry poncho lives on for another season, this time receiving an update in sleek grey and black. Dropping into Burberry stores just in time for the dip in Australian temperatures, this season's iteration is just as covetable (and toasty warm) as the original. Crafted in Scotland from wool and cashmere, monogramming of up to three initials is available online at burberry.com

And while you make up your mind about which colour to buy, here's a rundown of who it's been spotted on:

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