Here's a pattern for a simple and pretty bracelet that is a VERY easy knitting project and yet looks good enough to actually give as a gift to someone. I recommend at least a medium weight yarn with size 9 or larger needles. The pattern is as follows:
Cast on 8 stitches.
FOR ALL ROWS:
Right side: Knit.
Wrong side: Knit 2, purl 4, knit 2.
Do this until you have a bracelet-length piece, and then just sew it up using a tapestry needle to make a circle.
It is a simple but delicate looking pattern. My favorite thing to do is put a big decorative button over the seam. You can also weave a ribbon around and tie it in a bow at the seam.
Pics to come!