Equal Thirds color pattern is to have two of the strands be the same color. This makes it have the appearance of two rows of the main color, and then one color of the contrast color. I used this color pattern for the Stitch 15 and Stitch 25 baby blankets. It worked well for embedding the color of the variegated yarn into the work in the Stitch 15 blanket, and allowed the appearance of white triangles in a sea of maroon in the Stitch 25 blanket.
Here's how to do this:
Make your chain, and first row in color A. At the last stitch, tie on another strand of color A, without cutting the first strand. Pull both strands through the loops to finish the stitch. Chain with both strands.
Work row 2 with the new strand of color A, releasing the first strand. At the last stitch of row 2, tie on color B, and finish the stitch by pulling both strands through the loops. Chain with both strands.
Work row 3 with color B, releasing color A. At the last stitch of row 3, grab both the color B strand you've been working with and the color A strand that is waiting there from row 1. Finish the stitch with both strands. Chain with both strands.
Release color B, and work row 4 with color A. Repeat this pattern, changing strands every row, picking up the color that is available at the end of each row. Colors will be carried along both sides, though a third of the time, this will be two strands of color A.
Here's the pattern for this dishcloth:
Row 1: dc in 4th chain from hook, dc across
Row 2-14: ch 3, turn, dc across
Round 1: sc around (3 sc in corner)
Round 2: sc around (3 sc in corner)
Rows 1-2, 4-5, 7-8, 10-11, 13-14 are in the red color.
Rows 3, 6, 9, 12 are in the yellow color.
These are the Gryffindor like colors I used in the Half and Half stripe pattern.
I made this using Sugar and Cream Country Yellow and Wine with a J hook.