Two knitting projects going on right now.
One is a short-sleeved cardigan that I am clearly knitting in the wrong yarn. It has bobbles, openwork and cabling (whee!), but I’m doing it in a smooth yarn (Caron Simply Soft) with a shine to it, so it looks lumpy, rather than lacy. Still, the openwork and cabling are coming out very well, and I don’t feel like restarting it. If I finish this project, it will probably end up being a layering piece I will only wear around Christmastime–about the only time the bobbles will not look silly.
The other piece is my scrap scarf, that I am using to dispose of yarn left over after projects. It’s done in a 1:1 rib.
I would like to start a Friend Scarf, like that of my Canadian friends whom I met in Japan. Every person they met and befriended was strongly encouraged to knit a few rows on their ongoing scarf, which was already more than 10 feet long. You were to use whatever yarn they had attached, but you could knit in any pattern you liked: stocking, garter, rib, basketweave, whatever.
I don’t remember what stitch I used–it was more than 20 years ago! I still think it’s a fabulous idea.
Do you have any traditions, familial or self-created, when it comes to crafting in your house?
Like Sunrise 
We had a friendship scarf that I left in the student lounge of the music building. People would sit and work a pattern on it when they visited the lounge. I think it was therapeutic for some. I would frequently visit it and pick up stitches that had been dropped by more inexperienced knitters, but for the most part it turned out wide, warm, and wonderful. I don’t remember who took it home. We were going to give it to the head of the department, but it was kinda girly.