Is this sweater too big on me? Help

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It obviously depends on what kind of look you are trying to achieve. I know a girl who is like US size 00 but has men's sweatshirts in size large and wears them for a particular aesthetic / styling / fit. That being said, sounds like you aren't really liking what this looks on you, so perhaps you should return it for a size down.

Also my personal feeling is that (like some others mentioned) the shoulder/arm portion of this particular cut may not lend itself well to a super oversized look (too puffy). I'd go for a smaller size myself...hope you can find exactly what you are looking for!
 
That sweater looks so cute! It doesn't look too bad from the side, but in the first pic, it kind of makes your arms look a little big. I love the oversize look too, but usually, the length of the sweater should be longer to offset the width. In this case, the width is a little bit shorter than what I would like, which is probably why it's exaggerating the upper torso. I would honestly ask for a 36 or even try a 34. I did notice that this season for women's RTW does have a looser silhouette in general, so perhaps give the 34 a chance!
 
some of my sweaters I like to be oversized and some not. This one though seems like a size down would be better, even for an oversized look. 2 sizes down for a more fitted.
 
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