This time of year, I'm obsessed with capes and wraps. They're the ultimate layering piece for days when drastic temperature changes require multiple costume changes. They dress up jeans or leggings; they pull an outfit together with a pop of color or a fun pattern.

This weekend at the Breeders' Cup, I was thrilled that I'd accessorized with a sweater-knit wrap -- it was cool and rainy trackside, but warm inside the Bourbon Lounge. I was so glad I'd seen this awesome Talbots piece on two of my very favorite Kentucky bloggers, Authentically Emmie and Seersucker + Saddles; it was the perfect piece for an awesome day of racing!

If you have all the money to spend on a cape and wrap collection, then I'd suggest Burberry, as their colors are simply dreamy...

There are lots of amazing capes to be found at a much more realistic price point.

Of course, your favorite local boutiques are always a great place to find the latest trends. I love this one from Monkee's of Lexington.

Monkee's also has a lookalike for SJP's amazing Burberry wrap -- you can even get your monogram!

And head to the Peppermint Palm in Lexington or Louisville for one of these adorable Lilly Pulitzer Harp Wraps. I have one, and can tell you that it's super-comfortable and functional!