This is a basket weave pattern, and uses two strands of yarn held together, working two different sections throughout. Whether you are working with 3 or 4 hanks of yarn and regardless of your color combinations, continue working these sections for a uniform look.

You can use three different colors as per photo. Switching colors to get the tweedy effect.
You can work this blanket with three or four hanks. You can also use two hanks of each color and work this combo through the whole blanket.