I have a few suggestions depending on how much you're getting paid to make the quilt.
Low See if they make coordinating fabrics for the panel or find something close with either hearts or stars on it -- ideally with a dark blue background (2nd choice would be blue-green) & just cut it at 12".
Middle Alternate two 9-patches to reflect the red/beige, yellow/beige & blue/navy stripes on the panel. You can just strip piece together red-beige-red & beige-red-beige(same for other 2 sets) and offset the yellow in the middle so it gives it a bit of movement.
High Two borders. Inner border with blue & navy either blocks or piano keys interspersed with patchwork heart blocks. Outer border beige or something similar to the background of the star border with red sharks' teeth pointing in (babies love playing with sharks' teeth). Would be cute bound with either a stripe or a blue gingham.