It's actually an egg cozy, and the pattern's from Melanie Falick's Weekend Knitting. I made it as part of a swap package for a Swapbot swap. (Apparently I'm trying to see how many times I can use the word "swap" in one sentence.) The person I'm swapping with likes mini things, and I figured I'd probably never have a chance to use this particular pattern again (unless I take up eating softboiled eggs?), so I went for it! The yarn is actually really cute as a sweater. It kind of makes me want to make a full-sized piece of clothing out of it. Darn you, cute mini sweater, for planting the seeds of another UFO!
