A friend asked me to knit a pair of these for her to give some new parents. I've made three pair of these and one matching hat thus far. They're fast--I had them done in one day. The "suede" (read: nylon) yarn has the tendency to split when stabbed by a needle, which happened pretty frequently. I wouldn't want to use this yarn for a sweater but it's fine for small projects like this.
Suede Baby Booties knit in Berrocco Suede in 3729 (black)
and 3792 (pink) and Plymouth Yarn Oh My! (white)
The pattern was on a Knitty Gritty episode back in 2004. That's pre-knitting for me, and I've never seen it. The pattern for the booties and hat can be found here: http://www.knitandcrochetnow.com/fly.aspx?layout=patternsindex&taxid=163. (Search the page for "suede" to make it easier.)