Technically what you are wearing is the cravat - yes, I know that the 'Merkins call them Ascots. Trouble is based upon what I've seen, most people don't know how to wear them.
http://www.thecravatcompany.co.uk/howtotie.htm
Following the above advice will mean that you actually can now turn out decently dressed in one.
Hope this helps,
Elliott James,
138 (Special Duty)Squadron