Jinny Beyer's QUILTER'S ALBUM OF PATCHWORK PATTERNS has a lovely illustration (p.352-2), pieced with multi earth colored scraps. The rendering here uses the typical 3/4 circle, whereas Beyer's design utilizes a 2/3 cut (as does the original). The 3/4 circle (that is, how to draft it), is illustrated right. It is generally more lively, because the indentations of the curves are more pronounced.

Regards the title, AROUND THE WORLD could refer simply to travel or galavanting about, but it might also refer to what is out there in the cosmos, around the earth, that is, Earth's Sun, solar system and the universe. The design has a marvelous similarity to a traditional mandala used in Hinduism and Buddhism as a focus for meditation (see left). "Mandala" means simply, circle, but it is supposed to represent the universe. The four prominent semicircles at the cardinal points on the sides, (similar to the block), represent four "gates," or types of meditative experience. Working with quilt designs can also provide a rather mystic journey into deepening levels of spiritual depth and awareness.

For a recommended book on this type of so-called "drunkard's path," or "quarter circle" designs, see: DRUNKARD'S PATH QUILT DESIGNS, by Pepper Cory (1991/1998) — Google Books has an excellent preview here, where you can scroll through a number of interesting patterns. Other celestial quilt blocks at this site include:

RISING SUN (with Zinaida Serebriakova)
    AURORA STARS
HALF MOON (with Japanese Design)
    JUPITER'S MOONS
CITY STREETS (Georgia O'Keeffe, New York Moon)
    STARRY NIGHT
MYSTIC STAR (with St. Teresa of Avila)
    POLARIS STAR