I made this tube skirt last year for my 4 year old daughter. She wears it for birthday parties mostly. I picked up some different yarns that looked like fun. Eyelash and chenille are mixed in with sparkly yarn. You can vary the stitch pattern as you go. Just be sure to do something at the top and bottom for the first 1" or so to ensure it does not curl up. I did k4/p4 with the chenille so it would be soft closer to her waist. The sparkle stuff is a bit scratchy.
Then for the pattern, I knitted a bit of one, then introduced the next color for a just a few rows (like 2 rows) , and went back to the first for a row or two before going on to the 2nd color for a greater amount (Like 7 or more rows).
That way, it would be consistent and still varied. Then practicality set in and I did more or less based on how much I had left of each. I would not recommend more than 4 types of yarn with this.
