Welcome to the wonderful world of knitting! Even if you've been here for a while, there is always something new about this most fascinating craft! Now it's a fun, creative hobby for anyone.
Good quality yarns at lower cost include Aran', Double Knit', four ply, three ply as well as two ply. A simple stitch is completed by creating a beginner knit block. This many take a few weeks depending on how large the blanket is supposed to be.
You can knit blankets for the elderly in cold climates, "comfort dolls" to comfort children with AIDS in Africa, or hats and scarves for the homeless. Knitting is done by looping those threads, into each other by stitching. If you are beginner then start with a no pattern, this means just start by knitting with a combination of just two basic stitches, knit and purl.
Even a beginner can make a simple scarf with novelty yarn in just a few hours, and have it look just fantastic. Be sure to try using other available resources, such as local craft and hobby stores.