I'm looking at patterns, trying to understand the construction at least somewhat before I choose my pattern. This one, the Friseur Fringe Shawl, I am assuming begins with the fringes, and the body of the shawl is shaped using short rows. Am I correct in my thinking?
You are correct. Not all "crescent shaped" shawls are made this way, though. In fact, I would call this more of a "banana-shaped" shawl (smaller/narrower) than a "crescent shaped" (larger/worked from neck) shawl.
Another thing I am not understanding is that there are no wrap and turn instructions. I'm assuming there will be holes at the turning points, I copied and magnified a portion of the shawl, but wasn't able to see any holes. Is there something about the construction of this particular shawl that would keep holes from being made or am I just not seeing them?
Many short-row patterns won't specify what short-row technique to use (wrap and turn, turn and YO, German short-rows). The pattern assumes that you, the knitter, will use your preferred method.
So, in this case the intructions are 'to work to the last 2 sts and turn.' How you turn is up to you.