I really dig this thing, it has a lovely folk art feel. Made by Penguinade.

The creator says this about her project... "The background was a plain blue acrylic knit on size 10s, the rest of the pieces were free-knit out of scrap yarn. The "seaweed" pieces were knit, then every other row of stitches was dropped to form the lace-like structure.
The entire blanket was backed with navy flannel and tie quilted so that the ties were only seen from the back. The blanket was donated to project linus.
-dimensions are about 48"x60"