I recently knit some baby wash cloths for friends of ours and ended up with LOTS of left over yarn ; well, enough to make a little blanket anyway.
I made the pattern up as I knit - I was too tired to have to mark rows and such. So, coming up with my own pattern was the easiest way to relax and avoid reading a pattern.
It is easily broken down into 8-row repeats.
row 1: k2 , * k2tog, yo * rep until last two sts, knit 2
row 2: and all other even rows - purl
row 3: k2 , * k2tog, yo * rep until last two sts, knit 2
row 5: knit
Row 7 : knit
I also put in a random lace pattern that I found in a knitwear magazine.
ravelry link: http://www.ravelry.com/projects/FrettedFingers/baby-grant