Can't have too many February sweaters...
Sweater from "Some Babies' Things", February, Knitter's Almanac
Dream in Color Smooshy Sock yarn, much less than one skein
US #4 needles
Modifications: I cast on 7 more sts to compensate for the finer gauge, and worked a raglan yoke in stockinet so I could be lazy about math. The sweater ought to fit a 3-6 month-old baby, I think, so it should be perfect for the small recipient, who is four weeks old now.
I loved the yarn, and I certainly have enough left for the matching hat and booties. I'm looking forward to snagging some of their worsted weight for a toddler version.