I had gotten the Moda Dea ribbon for a ribbon Clapotis. This is what I worked on during the Winter Olympics and I managed to finish it during the closing ceremonies. Here it is:
Clapotis pattern from Knitty
Moda Dea Ticker Tape - 7 plus a little more skeins
Size 13 needles
~21 inches before drops
The only thing is...I'm not sure I like it. It was very heavy feeling before I dropped the stitches, and although it feels pretty airy now, I don't know. Maybe when the weather is less crummy here in the Bay Area, I'll take it out for a test run.
If it turns out I'm not fond of it, I can always frog it and use it for some type of sweater (I think I have enough ribbon).