I am bound and determined to catch up with the ABC Along.
When LaLa was a baby, I made her a tag blankie. The idea was based on "Taggies" - They are all over the IP on this, so I suspect it would be inadvisable to go and make a bunch and sell them on esty or ebay. Although, it seems like there wouldn't be a lot of harm in making them and giving them as gifts to your friends having babies. And they are SUPER easy to make, as long as you are able to keep track of the "right sides" (sometimes I have trouble with this).
I had her get used to it along with her Bearcat, so if Bearcat (a Carter's Snuggle Buddy toy) ever got lost, at least we'd still have the tag blankie.
She used it so much that she wore holes in the ribbons.
We came across the leftover fleece and she insisted we make a "replacement" - she picked out the ribbons for the next version.
Instead of replacing the old one, the new one wasn't quite broken in and for a while, we had THREE blankets to keep track of. Until one of her teachers said she should leave one at home. Thankfully.