Here is the Spontaneous Scarf I made with the 3 new yarns from Stitch Nation: 1 skein each of Bamboo Ewe, Full of Sheep, and Alpaca Love. Basically I cast on somewhere between 200 and 300 sts on a long size 8 circ and did seed stitch using one color per row with about an 8" tail for knotting at each end for fringe. For more info about the much-loved Spontaneous Scarf, I did a blog post HERE that shows a scan of many scarves from the original Spin-Off article.
I added stripes in this scarf but most of my versions have been just one color in as many different yarns and fibers as I could manage. These scarves are a perfect way to use up all those odds and ends of yarns that result from a lot of color knitting.
MORE OLYMPIC KNITTING LINKS
Hannah Kearney, Olympic moguls gold medalist, is a knitter. HERE is an interview Sarah from Knitting.about.com did with her.
The free pattern for Mitts for Medals uses colorwork and cables.
HERE's gold medalist skiier Lindsey Vonn wearing the Dale of Norway Valle sweater. Personally I wouldn't pair it with a La Perla bikini and high heels but I'm just boring that way. And HERE is the same sweater for purchase. I can't find a pattern for the sweater unfortunately.
HERE is a graph of the Olympic rings motif to be used for knitting.
HERE are lots of photos from the Kama web site of the athletes from Andorra wearing those gorgeous colorwork sweaters around the events.
Go check out MariannAn's beautiful Wintersocks for Ravelympics 2010. They're one of the most beautiful Ravelry knitting projects I've seen lately.