We will not be in Shetland for Shetland Wool Week but I am knitting the Wool Week Beanie. You can find the free pattern at www.shetlandwoolweek.com The beanie is called Merrie Dancers Toorie.
I have knitted this one on a circular needle using leftover 4ply wool from other projects. The colours are not the same as the one on the illustration but I am happy with the left over wool I have used. The green I used is very pale and shows very similar to the white I used but it is still ok.
Obviously the hat is still on the needles so it has yet to be finished and blocked.
Gippsland Granny 
I really like the colours in this one!
Thanks Kate. I am trying to use up wool left over from other projects.