I made these for a coworker's first child. The bib is the Flower Petal Bib from One Skein and the blanket is my own pattern. I used Elann Sonata for the bib. Knitting the bib gave me my first attempt at short rows, which turned out well for the most part.
For the blanket and chained the width I wanted it to be using an L hook with Bernat Baby sport weight yarn and Patons Cha Cha eyelash held together.
First row: hdc in 3rd chain from hook, hdc across; ch 2, turn.
All remaining rows: hdc across; ch 2, turn.
When the blanket is the length you want, fasten off.
Edging:
Anchor a sc anywhere but in the corner with white Bernat Lu Lu or similar yarn.
*5 dc (shell), then sc*, repeat from * to a corner.
7 dcs in the corner and continue with shell repeat above until another corner is reached. Fasten off.
My blanket was at least 30" x 40", but you can make it any size you like.
I used a cone of Patons Cha Cha for the blanket, so I can only estimate how many balls to use. I'd say 5 balls at least. You can also use Bernat Eye Lash, too, as it's the same stuff, although both yarns have been discontinued. Each ball is 77 yards, so about 400 yards of any similar weight eye lash yarn will do.