I have so far made two for my daughter
this one using a pattern i made myself but the armholes were not quite right and it is a snug fit...
The second (green) one is slightly larger. I just used the same principals but modified a size 3 paper pattern by extending the front to make the pleat.
I made one for my niece, for her birthday, using a size5 paper pattern
And one for my friends daughter for her Birthday...
with a matching belt made using this tutorial http://prudentbaby.com/2010/02/baby-kid/diy-fabric-belt-for-toddler-2/ again
I am sure that i will be using this idea many more times.
These tops look great with tights or skinny jeans which is why i like the matching belts.
It saves me from trying to find a belt to match.