I bought one 7 ounce skein of I Love This Yarn in dark demin blue. I made our two grandsons a cap each. Each cap weighs 2.3 ounces and I have enough left for a third one. This yarn cost $3.69 per skein, is very soft, comes in a lot of pretty colors, and is a great bargain. Especially since I had a 40% coupon. I like it better than the Caron, Vanna, and Red Heart acrylics.
This is a free pattern I found on ravelry under free child's watchcap. It has instructions for a small child through large adult.
I like the look of the Purl 2, Knit 1, ribbing. When turned upward it makes a nice knit2, purl1, appearance. I think this looks better than the 1x1 or 2x2. I tried them all.
I also made a K2T through the back loop dec than the regular K2T that it called for. It was quicker and it looks just like a SSK dec, but is easier and quicker to make.