Here is the quilt I made following the colors. I decided to create a small quilt and I didn't want to over think and stress about color matching. I wanted to use commercial cottons and so I found some that looked similar to the color chips. I didn't pre-plan my design I just worked spontaneously and somewhat quickly.
We have a Flickr group where participants in the Color Palette Challenge have started sharing their results. Check them out. The first challenge will end at midnight on Feb 15, so if you are interested in playing along, you still have lots of time. You can read all about how the challenge works here.