I am quite an experienced knitter but that pattern looks hard to follow the way it is set out.
The yarns knit up as different tensions and I would think they are not interchangeable.
The Paris knits up as a 10 cm square with 17 stitches and 22 rows
The Cotton viscose knits as 23 stitches and 30 rows.
This gives the slightly different pull on the stripes.
The Drops yarn you are suggesting knits as 26 stitches and 34 rows so will knit up a lot bigger.
If you are a novice knitter then it is a good idea to use the correct yarn and please do the boring bit of a tension square otherwise you can put a lot of work into something that is never going to be worn.
Sorry to be negative but I have just spent a day knitting and reknitting with double yarn to get it right. Good luck with your project.