I knit these baby booties for the silent auction at our preschool. I didn't see what they went for in the end, but at one point they were up to about $20, which made me feel good. Plus I got lots of compliments from people when they saw them.
I love making them - this is the fourth pair I've knit. It takes me about four hours per bootie, and it's a simple pattern. The cuffs are alternating bands of stockinette and reverse stockinette, and the toe and foot are garter stitch.
I use a self-striping yarn, and I don't make them so the stripes on each bootie match. I think they look better unmatched. I have a pattern for a hat that goes with them, but I didn't have time to knit one before the carnival. I barely finished the booties in time.
My mom made a set for Campbell before he was born, and he can still wear the hat. It's just a matter of whether he WILL wear it.
Soon, I'll start knitting a set for the Alien child.