I've finished last night another part of my See the Star SAL. Here's how it looks now. In the dark brown wreath at the right bottom corner will be stitched the initials. I am going to leave it open till the end, or until I have found a fitting font.
I'd also like to thank everybody for their input on my new project. I kind of thought going with option 3, the purple fabric, but I might switch now to option 4. The piece of fabric is rather small and would suit perfectly this project.
The fabric in option 1 is a rather big piece. Maybe it is just me, but I hate cutting into big pieces of fabric when I only need a small piece. I have the habit of "saving" big pieces for big projects.