Here's a fun cowl that was designed for my sister. She wanted something "Rainbow-y", so I went out and bought rainbow wool. The problem I soon found, was that most stitch patterns look like sh** with rainbow wool. So after much trial and error, I believe I found the stitch design that complements Rainbow wool.
For this project, I used a medium (4)/worsted weight wool, 5 mm circular needles, and a stitch marker to keep track of the round end/beginning, as it will change frequently.
Abbreviations Used in Pattern:
sts = stitches
k = knit (so k6 = knit 6 stitches).
p = purl (so p6 = purl 6 stitches).
s = slip stitch (so s3= slip 3 stitches).
p3sso = pass/pull all three/both previously-slipped stitches over.
yo = yarn over (bring yarn around so it will be worked as a new stitch on the next row/round).
k4tog = knit 4 together (*note, if you find this rather difficult, this can also be worked by knitting 1 stitch, passing it back onto the left needle, then pulling the next 3 stitches over that knit stitch, then sliding that knit stitch back onto the right needle).
Knitting the Cowl...
Cast on 144 sts.
Rounds 1 & 2: knit. Place stitch marker at round end/beginning.
Round 3: *k4tog, yo, k1, yo, k1, yo, k6. Repeat from * to end of round.
Round 4: knit.
Round 5: Remove stitch marker, s1, re-place stitch marker. *k6, yo, k1, yo, k1, yo, s3, k1, p3sso. Repeat from * to stitch marker/new end of round.
Round 6: knit all but last stitch. Reposition stitch marker here (new round end/beginning).
Repeat rounds 3-6 until cowl reaches desired length, and just knit two more round. Bind off.