Hi, I've recently started knitting and there's some great patterns on Ravelry by Kate Davies, you could also look at her website katedaviesdesigns.com. She has patterns for gloves and hats and more complicated cardigans and jumpers or blankets. I haven't tried any yet as am still plodding on with a pair of socks but will try her Catkin hat next.
I'd start with something not too big, and not too many colours, and in the round. Keep your stranding loose! One of the hats linked would be great. You can sort of get away with holding the main yarn as normal and just picking up the secondary colour when you need it. I love Fair Isle too and that there is so much of it in the shops as well.
If you are a slow knitter, colour knitting is very good as you get so motivated to finish a motif or get onto the next colour change.
I've been inspired too after watching that Fabric of Britain programme on BBC4. Search 'fair isle tutorial on Youtube and there's a great video by Pink Knits that makes it look pretty straightforward. There's also a fab pattern for Hermione's scarf on Ravelry (one Emma Watson wore in HP4/5)
Don't know where you are located but many wool/yarn shops run classes - take a look and tryout a Fairisle class. I did one at Loop (Islington, London) on Sunday last, cost me £60 and was a wonderful day - learnt loads and am now busy planning a fairisle vest in Jamieson's.
Juju Vails is a master at Fairisle - she does have books.
Mary Jane Mucklestone - books on Amazon...again, a master Fairisle-r .
YouTube is your friend for knitting - there are tons and tons of amazing tutorials on there for all types of knitting - along with other crafts too.
I would second the starting slow though - start small and do lots and lots of test pieces - maybe buy a book of fairisle styles and knit a scarf, in the round, that showcases all the different designs??
I did the Peerie Flooers hat that someone linked to a couple of years ago- and lost it somewhere last winter. I am half way through a replacement, I love it so much! Everyone comments on how lovely it is. I love doing stranded knits, I work with one colour in each hand and find it quite straightforward. I much prefer working stocking stitch in the round though as find it much easier to do the stranding when I just have to do knit stitches, as I don't like purling continental style.