Knitting old rags into lace?

I've been tearing some white estate sale sheets into 1 1/2" strips and joining them into a ball so I can make this --



Knitting old rags into lace? That's right up my alley! And a great way to use up some sheets that aren't quite thick enough or white enough for quilting with.

The strips are joined kind of like a daisy chain, following these instructions. If the knitting is as easy as I expect it to be, this'll be the lengthiest part of the project. The same designer also has a free pattern for a Rag Bath mat.

Weekly Stash Report 5/20/12

Nothing in, nothing out...

Fabric Used this Week: 0 yards
Fabric Used year to Date: 27.75 yards
Added this Week: 0 yards
Added Year to Date: 97.25 yards
Flung --36 yards (96 yards total ytd)
Net Added for 2012: 65.5 yards