Stash buster -- YES
Traditional style Fair Isle motifs -- YES

This is a pattern for a scarf or cowl worked in the round and using the Fair Isle knitting technique.

yarn:
2 Ply Jumper Weight by Jamieson & Smith; Light Fingering; 100% Shetland 125yds (115m) / 25 grams
approximate yarn amounts - cowl (scarf):
colour A (brown; dark) - 2 (3) balls
colour B (dark red; dark) - 2 (2) balls
colour C (red; med) - 1 (1) ball
colour D (pink; light) - 1 (1) ball
colour E (green; dark) - 1 (1) ball
colour F (ecru; light) - 1 (1) ball
colour G (grey; med) - 1 (2) balls
colour H (gold; light) - 1 (1) ball
needles:
2.75mm (us no 2) circulars 20in/50cm or DPNs 8in/20cm
3.25mm (us no 3) circulars 20in/50cm or DPNs 8in/20cm
gauge:
26 sts x 32 rows = 4in/10cm measured over stranded stockinette on larger needles
Some knitters work stranded and single-coloured at different gauges. Change needles, as needed, to keep stitch gauge the same throughout.
approximate finished size:
cowl
8.25in/21cm (width) x 45in/114cm (circumference)
scarf
8.25in/21cm (width) x 56.25in/143cm (length)
additional tools:
needle to weave in ends, st markers, waste yarn for provisional cast-on for cowl