I've been on a bit of a stash-busting bender lately. I found this ball of Mark's and Katten Fame Trend, a Christmas gift in 2009 from my aunt and uncle, and decided it was next on the list.
I browsed the Ravelry pattern database to see what I could find. I came up with Multnomah. (Available free at http://helloknitty.net.)
My goal was to use as much of the yarn as possible. I left I tiny tail after casting on the 3 starting stitches:
I knit extra repeats until my yarn supply seemed dangerously low and did a k2tog bind off to keep the end stretchy. I had about 8" of yarn left.
Let me tell you, I was seriously sweating that bind off! Here is a shot of the whole thing, pre-blocking.
The cat's odd sitting position is due to the fact that he was slowing inching his way closer to the yarn tail while feigning innocence.