These loom knitting videos show you how to loom knit a pinwheel dishcloth. You can loom two pinwheels and then whip stitch them together back to back for a matching hot pad. You could even make a larger pinwheel into an afghan by knitting bigger segments on a larger gauge loom.
All credit for these videos go to Isela Phelps thanks to her for making them available on Youtube. She is definitely one of the top experts when it comes to loom knitting. Check her site out at loomknit.com