I agree this may be a round robin; they were quite popular at that time.
Interesting note: The border fabric was a Concord Mills print that was so incredibly popular it was printed in 5-6 different colorways, including this blue, a maroon, a brown, a teal, a rust, maybe others. The original print was the brown/rust I believe, and its popularity was such that this print, used in every conceivable decor item for the bed, bath, and kitchen, saved the mill from going out of business. Heavens knows I did my part to keep it going in those days!
Jan in VA