As I have been getting everything ready for the baby I realized I needed a couple more receiving blankets and I have always loved the mitered corner flannel blankies. They are so soft and comfy and just the right size for swaddling a newborn baby.
The size that I like the best is 40" for the back piece and 30" for the front. This blog post has great directions on how to make a great and simple quilt.
I got this one done from start to finish in over an hour, even with constant breaks to help my 4 year old.
These quilts make a great baby shower gift too.