Applique is seeing not only a resurgence, but a rejuvenation in the world of fabric arts. It is no longer about the cutesy little bonneted girls of the past. Applique work in the form of penny rugs is bringing crafters some hefty sums. If you haven't seen them, the penny rugs are really beautiful. Be careful though; many are not made well. You may find one that is just the style you want, but the workmanship can be lacking. Because crafters are able to make money on then, some are trying to get quantities of them out fast. In doing so they are skipping steps.
As you get comfortable you can add fabric edging too. Try using different fabrics. Cottons are readily available and inexpensive but try different textures by adding wools and wool blends. Also challenge yourself with color. Playing it safe doesn't always lend itself to the best product. Start by throwing in one color you never would have added. Use different tones for contrast and interest. Experiment and don't forget to just have fun.