I came up with this model when playing around with hex twists. It’s quite simple, so it may have been invented before. This pinwheel shows a nice color change and can be made (with minor modifications) from many different polygons, including: square, hexagon and octagon. You can also modify the width of the color-changed part or change the pursing pattern in the middle to create different variants.
I find the hexagonal version nicest. Two hexagonal pinwheels can be connected back-to-back using the flaps on the back of the twist.