Have you heard of the 'linus blanket? The kid on Peanuts who carries his blanket around EVERYWHERE? A simple stitch around the outside of the fabric would turn this into fabric into a life long blanket! The comfort blanket. Not too big and not too small. Super soft with a bit of stretch.
You could line it with some fuzzy fabric or a funky pattern to give it more of statement blanket.
Caution on the picture below...it may cause baby hunger! Make a swaddling blanket for a newborn baby. Fast, easy, homemade gift with a ton of personality and love.