When I make baby blankets, I generally us a 2 to 3 ratio, but a 3 to 4 also makes a good proportion. I also find that overall size is rarely a problem. Little ones can be called loveys or be made just a bit bigger to be used as a car seat blanket. Personally, the majority of baby blankets I make are about 12x12 to be used as preemie blankets.
“All you need is love. But a little chocolate now and then doesn't hurt.”-Charles M. Schultz