I made 10 of these tag blankets for xmas the year before last, very fast and easy!! My only recommedation is to cut your strip a little on the wider side. Most directions say to cut 1 inch strips, I think it looks nicer with 1 1/2 inch strips. When there is so many skinny strips, it starts to look straggly imo.
I second the solid on one side and print on the other.
Also made 7 of the pillows...very easy too!! Just lay a pillow form over the fabric you want and have clerk cut fabric so there is a "tag size" overhang on all 4 sides. Sandwich the pillowform between the 2 peices of fabric and cut and tie your strips. I cut my strips shorter, alittle above where the pillow started, so I wouldn't see the pillowform, peaking out in between each knotted tie, after it was finished.
They all turned out great and had very many happy people to receive them. Great inexpensive homeade gift!