Thanks to JohnnyHell's suggestion... I decided to try to 'quarter' my knight.
I really liked the blue color scheme but I also wanted something to tie into my Space Wolves army.
I wanted to represent that we had a free blade who worked with the Space Wolves; or maybe had some debt of honor to the Space Wolves. At first I was going to just quarter the left shoulder and leave the rest of the Imperial Knight blue, but I thought he would look too much like a Librarian so... I decided to try this. I want to try to mimic the Space Wolf color scheme as much as possible, hence his shoulder is yellow. His giant chain sword will be red.