This was a fun and quick weekend project. The colors are fun, and the pattern was easy to memorize. It used up a stray skein of yarn, and since you get 3 cozies from one skein, you could easily use leftovers this way.
Most importantly, since I have been unable to resist the charms of Noro Kureyon recently, this project allowed me to enable myself by the statement "It's OK, it's for gifts."
Pattern: Kureyon Coffee Cozy
Yarn: Noro Kureyon #195 (I think.)
Needles: US 7 dpns
Total time per cozy: About 1 1/2 hours