Cashmere Challenge - Update

So, the 31st came and went without a completed project, but Celine has successfully used one of her skeins already, so I feel shamed (by no one other than myself) into showing my (ahem) progress.

I swear, I remember this being further along than it evidently is.  Do I get points for the fact that I'm making it up as I go along?  If this matches what I have in mind, I'm going to be very excited.  But I'm not giving any more spoilers.  Instead, I'll reapply myself to finishing it.  Maybe I can get it done before Celine finishes her second skein project.

Cashmere Challenge

Last weekend I finally got to visit with my good friend Celine, and I left with far more than I'd come with:  freshly made madeleines, some Liberty fabric, and of course, yarn!

One of the yarns was this gorgeous cashmere.  I had a choice between the light gray and the dark gray, and chose one of each, leaving Celine with one of each as well.  Since we have the same materials, we've decided to have a little challenge - what will each of us come up with, using this yarn, by the end of March?