It's not as hard as I thought it would be. It feels a little strange at first, but you get used to it fairly quickly. I learned how at a class at JoAnn Fabric, but there are a lot of great resources available online if you want to learn. There is a nice learning center at Lion Brand Yarn's website, and there are lots of educational YouTube videos you can find that show you what to do.
The class's purpose was to teach me how to knit in the round and change yarn colors by making a very cute little baby hat. However, as I have no baby for whom to knit said hat, I said "to heck with this plan!" and did my own thing. I used Lion Brand Wool-Ease yarn in navy and heather gray to knit up a roll-brim toque (even though it is now unseasonable!) for the Hubster. I started out thinking it would just be a simple striped hat, but soon my ambition and creativity took over, and once again, "to heck with this plan!" :-) I pulled out a chart that I drew on graph paper of his name, Soumyajeet, in his native Bengali. (If your screen can read Bengali script, it looks like this: সৌম্যজীত ) I also experimented and created some skull designs to make it a little bit more punk, less ski-lodge. Here's my graph:
Here is the finished product!