In Iris Schreier's Modular Knits, I practiced the first lesson by making these dishcloths. Unlike entrelac, this technique looks the same from both sides. It seems complicated at first, but once you get the hang of it, multidirectional knitting becomes (almost) mindless.
I wasn't completely satisfied with the look of the increases, decreases, and slipped stitches, so I experimented on this second one. I tried different combos on each row, using K2tog instead of SKP, the lifted increase on the right side of the first stitch instead of Kf&b, M1 after the 1st st, and knitting instead of slipping the 1st st on return rows.
In summary, I prefer the lifted increase instead of the Kf&b, and K2tog instead of SKP, leaving everything else as is. You'd have to get the book to know what I'm talking about here.
If you're in need of a challenge or just something new, I highly recommend you go out and buy this revolutionary knitting book, but check the website for errata, as the book is full of errors. I even submitted the corrections for the garter squares tutorial, and one of the projects!