This great pattern (available for free on Ravelry) is fun to knit and the finished mug cozy and matching coaster are very cute! They come together quickly, are easy enough for beginning knitters, and make great gifts. I knit mine with Eco Highland Duo by Cascade Yarns, which is a light worsted that is extremely soft and wonderful. I modified the coaster pattern slightly in that I added another section of knitting instead of adding the fringe. I modified the mug cozy by stitching together the corners above and below the button (see the video below for more explanation.)
I suggest using stitch markers to keep track of the sections. You don’t need very much yarn; a light worsted is ideal. (While “worsted weight yarn” is indeed a standard size, I find there to be a lot of variation in that some is on the lighter end, almost a DK yarn, and some is on the thicker end, almost a chunky yarn.) For the mug cozy, you’ll also need a half inch button, yarn needle, thread and a thread needle to sew the button. I also use a toothpick when sewing on buttons. Check out the video below for an overview of how to knit the mug cozy. More detailed videos for every step will be posted soon in Lesson 5 on the Learn2knit section of the site.