Here is my new grandson, Oscar at 3 1/2 weeks old, all snuggled up in the entrelac baby blanket that I knitted.
Entrelac is a really easy technique that creates a textured diamond pattern. The basketweave effect is actually created by knitting squares facing in opposite directions. Once you've got the base row of triangles sorted, you only work on a few stitches at any one time (in this case, just 10 stitches) and it is nicely repetitive, in a good sort of way, so you don't have to keep referring back to the pattern. It makes an ideal project to knit whilst watching TV.
The pattern is available from Love Knitting as well as my Etsy and Craftsy shops. (links in the sidebar)
Oscar's blanket was knit in an organic double knit cotton, which sadly is no longer available, but if you want to make it using similar colours try Sublime Baby Cashmerino in Pebble, Cuddle, Gooseberry and Vanilla.
You could also go completely scrappy of course, and use up some stash!