So, I thought I should probably read some proper instructions rather than just "winging it". This attempt was a miserable failure too (in hindsight, I blame the instructions I found on the Internet).
Then a miracle happened. I bought the wonderful Meet me at Mikes book (here) and within one hour of following Pip's easy directions, I made this little beauty, and even maned to change colours!!!!
The wool I used was some cheapy stuff from BigW but I love it because it changes colours every inch or so.