I have a couple of questions about finishing fringed plaids. Is there any difference between "purled and knotted" and "braided and knotted"?

My plaid has three colors in some of the "tassels" (or purls, or braids, or whatever they're called), but most of them have two. I assume this is because the tartan sett has two red bands that are 10 threads wide. Is there anything "incorrect" or less desirable about having tassels with more than two colors?

mookien