I lucked upon some Moda Dea Ticker Tape yarn that I found on sale at Michael's for this. It was in the most gorgeous color of pink and white that screamed out "make something out of me" for a dear friend of mine.
As a new knitter, I was a little nervous about using a ribbon yarn, but I got the hang ot it quickly. On size 13 needles, I knit 6 rows, and then made drop stitches for the equivalent of 6 rows. It turned out to be really awesome, if I do say so myself.
Here's Becca modeling it at her big wig DC job.