I came up with this idea just this morning and figured I'd wait to try it until the China Glaze Anchor's Away collection came out (for the navy and the red). As you can see, I didn't make it that long before trying it out.
I used Sally Hansen Xtreme Wear White On for the base (plus a coat of SV), then used Liquid Palisade to form the half moons and just painted over with RBL Dead Calm (navy), and OPI Monsooner of Later (red... I know it looks orange here, but it is a bright orange-red in person). One note about Liquid Palisade. It's pretty awesome, but make sure you give yourself an extra "tail" with which to pull it off once you've painted over it, and probably pull it off with tweezers (I didn't do either and got blue and red all over my other hand's fingers...). After I let it dry just a bit, I dotted White On in little dots (freehand with a dotting tool).
I like this one, but it takes awhile and I don't think I have the patience to complete the design on my other hand as well. I think it looks sort of nautical, or like a polka-dotted dress.
What does this design remind you of? Have you tried/do you like the half-moon manicures?