I am making the one Brenda suggested. I got my Denise delivered yesterday, went out at lunch and bought some DK wool (sport weight to US knitters) that was very cheap and watched Amy's video.
I sat down last night and started, I'm well on my way - I did some more at lunchtime today :XX:
so far it has been pretty easy. Just make sure not to let it twist. I'm using a single colour yarn to practice with. I'll probably make a few of these as practice runs and try colour variations later, but as a first time circle knitting project it is proving to be nice and straightforward!
Edit: DOH I didnt look at the link properly.. this is the one I am making not the one Brenda suggested.. http://www.headhuggers.org/patterns/kpatt06.htm