Round or Pinwheel Baby Blanket
NOTE: The Knitlist version of this pattern is still available through the generosity of the Internet Archive--the Wayback Machine.
This versatile baby blanket can be knit with any weight yarn using the needles appropriate for that yarn.
The website appears to be currently down (as of Jan 2, 2011) for now, an archived version can be found here
Notes from designer, Genia Planck:
You can add fringes or tassels or even pom-poms. Or, for those handy with a crochet hook, you can crochet a bit of a lace edge around.
You can also knit in stripes, and on the even rows, throw in some purl stitches for a bit of texture. It also works well with a variegated yarn.