I’m trying this technique for my swatch (hence all the strands on the back in the top picture).

Updated 7/9/12: I decided to reswatch since I’m not in love with any of the stitch patterns I tried out.

Updated 9/3/12: I’m starting over with a new yarn and a different stitch pattern.

Updated 11/12/12: I ended up making this scarf, so I unraveled the swatch. This yarn will be destined for greatness another time!