The pattern is a variant on the Log Cabin pattern found in Mason-Dixon Knitting. I saw someone do something similar on Ravelry and wanted a rainbow effect but I screwed that up by mislabeling my balls of yarn. I also bought the yarn online and the colors weren't all quite what I was expecting. But I'm cheap and used them anyway.
This is what I was doing most of the weekend. I am so glad it's finally done! I've been knitting this sucker for over 2 years and it kept me sane through too many dance competitions to count. It's also been my mindless tv knitting (it's all knit, knit and knit some more) when I could remember to pull it out and work on it. It would've been done much sooner but It bored me after a few rows every time I worked on it and I think it gave me a case of early arthritis because my hands ache all the time now and this thing became so heavy.
I'm just glad it's done and can move on with my life now. It's nice enough but if I had it do again (no way in hell) I'd rethink the color scheme which looked better on paper and that godawful fuchsia in the middle that offends my eyes (what was I thinking?). The kitties love to knead on it and my husband grabbed it for the bed because we have drafty old windows and this thing is warm! It's useful so I guess there's that.