I love the idea as well.
My concerns are similar to Rachel's. Would it be possible to have a few different categories we could sign up for? We could choose from let's say three different groups: the 'mystery sock' group, the 'mystery scarf/shawl' group or the 'mystery hat' group (or what ever groups make sense)... and then the people who sign up can be sorted and matched up that way?
I think once we read the pattern we'll know what the object will be, but it will be fun seeing how the item will turn out with the colors and design in the pattern that's hidden from us.
Just throwing out a few ideas. Regardless, thanks for organizing a new swap!!