About a year ago I started making a baby blanket.  It's not for anyone- I wanted to try out a pattern, and I happened to have 8 balls of baby yarn that someone gave me.  I would never have picked this yarn.  It's sort of old fashioned looking, and a little bit scratchy.  Maybe the scratchiness will go away when it's washed the first time.  It's baby blue and white variegated with a silky thread running through it. 
The pattern is called a pin wheel blanket.  It's a circular blanket with ten sections radiating out from the center.  I've made several mistakes, but I figured this my practice.  I think I'll try again with yarn that I really like.  I saw some at the store the other day- I want it, it's cheap, but I told myself "Don't buy it!  You don't have any more space for yarn in you closet!"  I might have to buy it anyway.  I hate it when I see a yarn I like, I don't buy it because I don't need any more yarn, but later, when I want to buy for something specific, it's gone. 
The blanket is almost finished!  I'm working on the border now.  It will take a while, but I think it will look pretty cool.  That's a 1+ year baby blanket.  I must be the slowest knitter in history!  Finally finishing up has put me in the mind to buy more needles to make another one. (A bigger one.)  Of course the needles I want cost $140.  They seem to be made out of gold . . .  No just kidding, it is an interchangeable set of 8 or 10 pairs of needles and cables that hook them together to make big things like circular blankets. Some day . . . It will be me and a mountain of yarn and my fancy needles.