You could do a Double Irish Chain in the school colors, or if licensed print is available, use that for your squares, and in the "blank" blocks, applique the initials of the college, or the mascot. I did this for my brother, who is a huge OSU fan. The first block was scarlet, gray and white, and a Block O was appliqued inside the "blank" area. Didn't think to get a picture of it before I gave it to him, but it turned out really well.