A Visual Haiku wrote:
What I have seen is the hue/saturation, masking thing, and they seem great, but they don't translate to my version (or let's face it, they might, although I can't translate them).
Select the sweater (the wand might or might not do ... can't tell without seeing your image), open a hue/sat adjustment layer (surely PS 5.0 has that!). The selection will automatically create a layer mask. Then adjust the hue slider. You might need to clean up a few spots around the edges of the mask. That should be the only time you need a brush.