Normally I avoid color work; the twisted strands and multiple balls of yarn seriously stress me out. This project may have changed my mind, though:
This is called a tweed stitch in my trusty dictionary, but I think the slipped stitches make the colors blend a bit to look more like watercolors.
The yarn is Caron Simply Soft again, in colors that were just left over from some other projects, as I've really been trying to stash bust lately. It will be baby blanket sized (30 inches by 30 inches) when it's done, although right at the moment it sort of looks like an oversized dish cloth :P.
Since my colorwork is slightly less than neat on the back side, I'm planning to back it with some simple flannel or cotton and do a couple lines of running stitch across the square to keep it in place. I think it will end up being a cozy little baby blanket...and a bit of a departure from all the pink and purple things I've been making lately :).