Black Arrow Headband
This is a good beginner's introductory colorwork project. The headband only uses about 75 yds of red and 75 yds of black. You'll also need just a small amount of white for one round at the center.
Full color pictures, charts and written instructions will guide you through each step. Different sizes can be achieved using different needle sizes, and differing weights of yarn which may increase or decrease your yardage requirements.