I bought this as a gift for my wife who loves anything animal print and who has been dying to start shopping for Fall sweaters. My wife is about 5'4 and 130 pounds... I ordered her a size medium, and it fits quite loosely on her. The sweater looks pretty similar to the picture and it is very, very soft. Honestly, it seems like a fairly thick, high-quality sweater compared to some of those that my wife has purchased.
I will update based on any issues with washing and our plan is to lay flat to dry.