This DIY has probably already been done on every blog like ever, but I in case you didn't get around to it when you first saw it -- here it is! A friend of mine actually purchased this top recently and we were all oh-ing and ah-ing over the adorable elbow patches. If you're feeling crafty or don't want to spend too much on this sort of sweater go ahead and give this DIY a chance.
I had been planning to do this almost 3 semesters ago and have not had the time. If you do try this be sure to send me pictures, I want to see!