The (literally) 2 hour Shawl
Yes, I did time it! :) For a reasonably quick knitter, this is an easy 1½ hour garter st knit, the other ½ an hour is for blocking and attaching the fringe. It is a triangular shawl that is soft, light and completely reversible. It makes a great last minute gift, and uses only 200m of yarn.
Gauge for this one is largely unimportant. Choose a light and lofty worsted (10ply) yarn. (It says Moda Vera Beauty is a DK, but it is more of a worsted - recommended needle size on the label is 5.5mm).
Update 13/10/13: a few yarn weights have now been tried and DK does work too.
Note: There is no ravelry option for a 12mm needle size, but that is what I used: anything close to that should be fine.