This is a great stash-buster for all your fingering weight left overs.
It is also an excellent skill builder project: Have you tried colourwork with twisted stitches and purls? What about two-handed colorwork knitting? A small project like this is a great way to try a new technique.
Optimise stash busting with the Fade version, or challenge yourself with the twisted stitches and purls in the Textured version.

Sizes:
S/M (M/L)

Measurements:
Circumference: 53 (57)cm / 21 (22.5)“
Width: 8.5cm / 3.5”

Yarn:
Version 1: Fade
4ply / fingering weight woollen spun yarn in 4 colours:
MC: 115 (126)m / 126 (138)yds
CC1: 25 (27)m / 27 (30)yds
CC2: 25 (27)m / 27 (30)yds
CC3: 25 (27)m / 27 (30)yds
The sample is knit with Jamieson & Smith 2ply Jumperweight in colours 81 (MC), 202 (CC1), FC43 (CC2) and 1281 (CC3).
Version 2: Textured
4ply / fingering weight woollen spun yarn in 2 colours:
MC: 115 (126)m / 126 (138)yds.
CC: 75 (82)m / 82 (90)yds.
The sample is knit with Pirtin Kehräämön Karstalanka 140 tex x 2, in two plant dyed colourways.

A note about yarn substitution: This pattern is written for a woollen spun yarn. If you wish to use a worsted spun (smooth) yarn, pay attention to your row gauge, it tends to be tighter, and add more rows if necessary. In addition, knits with smoother yarns tend to stretch more, so you may need to account for more neagtive ease.

Needles:
3mm / US 3 or size required to get gauge.
Double Pointed needles.
AND if you prefer using the magic loop method: 100cm / 40” or longer circular needle

Notions:
Stitch markers, crochet hook, tapestry needle.
Waste yarn for provisional cast-on.

Gauge:
28 sts and 22 rounds = 10cm / 4” on 3 mm / US3
needles in stranded knitting after blocking.

24 sts and 30 rounds = 10cm / 4” on 3 mm / US3
needles in St st / Rev st st after blocking.

Design notes:
This headband is knit in one piece and in the round into a long tube.
The tube is joined into a loop by grafting stitches form Cast-on and Bind-off edges together.
There are instructions for two versions:
Version 1: All stockinette st colorwork with a faded colour change in the contrast colours.
Version 2: A textured version with twisted knit stitches and purls with only 1 contrast colour.

Techniques:
Provisional Crochet cast-on
Stranded colourwork knitting
Twisted knits
Basic decreases and increases
Grafting using kitchener stitch
Grafting using kitchener stitch in purl

Skill level
intermediate