I completed this project on a 50 peg Knifty Knitter Long Loom, EW to change the color. To change the size you can Knit the hat instead of EW and the size will be about half that.
I also provide a note on my blog post about how to go and make a beanie hat rather than a slouchy hat.
This is a pattern that if wrapped in a circle should flow smoothly around without a break in the pattern. Much work was put in to make sure of it.
The three sections presented can also be used individually for just a nice accent on a hat.
Wonderfully enough it only took 1 skein of each black and white and no more. :-)