I had the idea in my head to make a blanket like this when my son was born ... but he just turned 3, so obviously, I never got it figured out. I wanted the back to wrap around the front to give the binded edge look on the front, but I couldn't figure out how to make the corners mitered and pretty...so I gave up.
...but, I found a tutorial for a self-binding blanket that a friend had used for her daughter's blanket.
It was a bit tricky to work with since I decided to use a flannel backed satin for the back and binding. It was slippery and gave me all sorts of problems. But I think if you used 2 pieces of flannel, it would work out fine.
I made this one for my sister-in-law's baby shower last weekend. I knew my mom was making a lot of receiving blankets for her, so I wanted to try a non-traditional baby blanket. I like how it turned out, but the standard receiving blankets are a lot less work in my opinion. :)