I got a bag of Navy too and I'm planning to make Green Gable
for me, and a tank for my sis (pattern not chosen yet). It feels so cool to the touch. I haven't yet swatched it, waiting for my current UFO to be done. But I've heard several people mention over at Knitty that it washes up real soft. I hope so!
If you're a XS or S size, you may
be able to make a tank like this blue one.
If not, I guess you could make a lacy summer shawl maybe with beads to add interest since you have such a nice light color. Won't keep you warm but just as an accent.
Let us know what you finally choose