I made a size small, 10-12, and I could probably even go down to the extra-small. However, I love the slouchy, comfortable look. The only thing I might change next time is to narrow the sleeves a little as they don't stay up too well when I push them to/above my elbows.
The fabric is something that's been in my stash for over a year. It's a lightweight, semi-sheer sweater knit I purchased at A Fashionable Stitch in Salt Lake City before we moved (and they went out of business). It's spongy enough to be kind of warm, but it's sheer enough that it demands a camisole underneath. It has the perfect weight and drape for this top.
This top is really similar to the Grainline Studio Hemlock Tee (which is a free pattern), so you could definitely download that one as an alternative if you don't have this pattern on-hand. I was simply in need of an instant-gratification (read: no tiling/taping) project the night I made this, so paper pattern it was.
I'm sure I'll be making this again as it's a wonderful, wardrobe-building, quick/easy sew. For your size-selection reference I am 5'6" and about 33-26-36/125lbs in the photos above.